Bojangles’ $455 Million Whole-Business Securitization


Paul, Weiss represented Bojangles’ Famous Chicken ‘n Biscuits in the transaction.

As part of the transaction, Bojangles Issuer LLC offered $40 million of Series 2020-1, Class A-1 Notes and $415 million Series 2020-1, Class A-2 Notes. The collateral included existing and future franchise and development agreements, existing and future company-operated restaurant royalties and profits, and intellectual property. Proceeds from the offered notes will be used to refinance its existing credit facilities, pay certain transaction expenses, and for general corporate purposes.

Bojangles’ Famous Chicken ‘n Biscuits is an American regional chain of 750 restaurants in 11 states.

The Paul, Weiss team advising Bojangles included corporate partners Jordan Yarett (Picture), Robert Zochowski and John Kennedy and counsel Mikhel Schecter, Evan Berman and Christopher Poggi; real estate partner Peter Fisch; intellectual property partner Claudine Meredith-Goujon; restructuring partners Kyle Kimpler and Alice Eaton; and tax partners David Mayo and Scott Sontag.

Involved fees earner: Evan Berman – Paul Weiss Rifkind Wharton & Garrison; Alice Eaton – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; John Kennedy – Paul Weiss Rifkind Wharton & Garrison; Kyle Kimpler – Paul Weiss Rifkind Wharton & Garrison; David Mayo – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; Christopher Poggi – Paul Weiss Rifkind Wharton & Garrison; Mikhel Schecter – Paul Weiss Rifkind Wharton & Garrison; Scott Sontag – Paul Weiss Rifkind Wharton & Garrison; Jordan Yarett – Paul Weiss Rifkind Wharton & Garrison; Robert Zochowski – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: Bojangles’, Inc. ;

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Author: Ambrogio Visconti