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.
CKE Completes $180 Million Whole-Business Securitization Offering
- Client News
- June 24, 2021
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 fourth 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 $180 million in additional fixed-rate senior secured notes, bringing the total amount of bonds outstanding under the securitization to over $1.1 billion.
The Paul, Weiss team included corporate partners Jordan Yarett and John Kennedy, and counsel Christopher Poggi, Mikhel Schecter and Philip Heimowitz; tax partner Lindsay Parks; restructuring partner Kyle Kimpler; and executive compensation counsel Jacob Glazeski.