Our Finance Group helps clients navigate the business and legal complexities of novel and multidimensional debt financing transactions. We fully understand the challenges faced by borrowers, investors and lenders throughout a company’s lifecycle, from evolving techniques in acquisition finance to the tensions inherent in distressed situations. We are the firm of choice for the most innovative and complex financing matters, including bespoke structured financings and whole-business securitizations of novel assets and restructurings of multibillion-dollar companies.
Zaxby’s Completes $985 Million Whole-Business Securitization
- Client News
- June 11, 2021
Paul, Weiss represented Zaxby’s Operating Company L.P., a Georgia-based chain of 911 restaurants across 17 states in the Southern U.S., in connection with its inaugural whole-business securitization. Under the terms of the transaction, Zaxby’s Funding LLC issued three classes of notes totaling $985 million. The transaction collateral included existing and future domestic franchise agreements and associated royalties and fees, royalties and profits from company-operated restaurants, certain vendor rebates, rental income, other fees and income and intellectual property. Proceeds from the offered notes will be used to refinance the company’s existing indebtedness, to pay certain transaction fees and expenses, and for general corporate purposes. Zaxby’s is a portfolio company of Goldman Sachs Private Equity.
The Paul, Weiss team included corporate partner Jordan Yarett and counsel Christopher Poggi and Mikhel Schecter; real estate partner Peter Fisch; intellectual property partner Claudine Meredith-Goujon; executive compensation counsel Jacob Glazeski and Meghan Fox; and litigation counsel Steven Herzog.