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Clients rely on our Finance Group to help them navigate the business and legal complexities of novel and multi-dimensional debt financing transactions. Our versatile finance practitioners work closely with our mergers and acquisitions, securities, tax, real estate and bankruptcy lawyers to provide seamless advice and innovative solutions that address our clients' debt financing needs related to all types of transactions and capital structures.
CKE Completes $400 Million Whole-Business Securitization
- Client News
- December 21, 2020
Paul, Weiss advised CKE Restaurants Holdings, Inc., the owner, operator and franchisor of Carl’s Jr. and Hardee’s Jr. quick-service restaurants, in its third series issuance under its whole-business securitization. The transaction, backed by domestic and international franchise agreements along with royalties from real estate, franchisee licenses, IP and cash flow from some corporate-owned franchises, involved the issuance by Hardee’s Funding LLC and Carl’s Jr. Funding LLC of $400 million in fixed-rate senior secured notes.
The Paul, Weiss team included corporate partners Charles Pesant, Jordan Yarett, Robert Zochowski and John Kennedy and counsel Christopher Poggi, Evan Berman, Mikhel Schecter and Philip Heimowitz; tax partners Lindsay Parks and Scott Sontag; restructuring partner Kyle Kimpler; executive compensation counsel Jacob Glazeski; and litigation counsel Steven Herzog.