Church's Chicken completes $210 million private placement of Senior Secured Notes in whole-business securitization

Client(s) Cajun Operating Company d/b/a Church's Chicken

Jones Day advised Cajun Operating Company d/b/a Church's Chicken, a quick-service restaurant chain, in connection with a whole-business securitization consisting of the issuance of $185 million of Fixed Rate Senior Secured Notes and $25 million of Senior Secured Variable Funding (Revolving) Notes in a transaction exempt from registration under Rule 144A and Regulation S. Proceeds from the securitization were used to refinance Church's outstanding notes issued in 2011, on which Jones Day also advised, and for general corporate purposes.