FATBB - FAT Brands prices $250M whole business securitization transaction

FAT (NASDAQ:FAT) has priced $250M of its FATTP Series 2021-1 8% Fixed Rate Asset-Backed Notes. This transaction has been structured as a whole business securitization through FAT Brands Twin Peaks Royalty I, LLC and is FAT Brands’ fifth securitization transaction. Net proceeds will be used to partially finance the acquisition of Twin Peaks restaurant chain from Garnett Station Partners and the notes will be secured by the acquired assets. Andy Wiederhorn, President and CEO said, “This issuance gives us ample time to implement our strategy of increasing the number of franchised locations of this extremely successful concept prior to refinancing....."

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FAT Brands prices $250M whole business securitization transaction