CKE Restaurants’ $400 Million Notes Offering


Paul, Weiss advised CKE Restaurants Holdings, Inc. on the deal.

CKE Restaurants Holdings, Inc., the owner, operator and franchisor of Carl’s Jr. and Hardee’s Jr. quick-service restaurants, executed 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 (Picture), 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.

Involved fees earner: Evan Berman – Paul Weiss Rifkind Wharton & Garrison; Jacob Glazeski – Paul Weiss Rifkind Wharton & Garrison; Philip Heimowitz – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; John Kennedy – Paul Weiss Rifkind Wharton & Garrison; Kyle Kimpler – Paul Weiss Rifkind Wharton & Garrison; Lindsay Parks – Paul Weiss Rifkind Wharton & Garrison; Charles Pesant – 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: CKE Restaurants;

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Author: Ambrogio Visconti