FAT Brands' Twin Hospitality Group Secures $416.7 Million in Notes Ahead of Planned Public Listing
FAT Brands' Twin Hospitality Group Secures $416.7 Million in Notes Ahead of Planned Public Listing
The aggregate principal balance of the new Series 2024-1 notes is $416,711,000 across four tranches.Twin Hospitality Group has priced new notes to refinance its credit facility, advancing towards a planned public listing.
雙子酒店集團已定價新債券以再融資其信用設施，朝着計劃的上市邁進。
Quiver AI Summary
Quiver AI 概要
FAT Brands Inc. has announced the successful pricing of new notes by its Twin Hospitality Group Inc. to refinance its whole business securitization credit facility originally set up in October 2021. The new Series 2024-1 fixed rate notes, amounting to $416,711,000 across four tranches with a weighted average interest rate of 9.5%, will stabilize Twin Peaks' financial structure as the company moves toward creating a standalone public entity. Ken Kuick, Co-CEO of FAT Brands, highlighted the importance of this refinancing in facilitating growth for Twin Peaks, which has opened nine new locations this year, bringing the total to 115. Jefferies LLC was the sole structuring agent for the transaction, and various legal firms were involved in the process.
FAT BRANDS INC 8.25% CUM PREF STK SER B 宣佈其雙子酒店集團成功定價新債券，以再融資其於2021年10月設立的全業務證券化信用設施。這些新的2024-1系列固定利率債券，金額爲416,711,000美元，分爲四個部分，平均利率爲9.5%，將在雙子峯創建獨立上市實體的過程中穩定其財務結構。FAT Brands的聯合首席執行官肯·庫克強調了這一再融資對雙子峯發展的重要性，今年雙子峯開設了九個新地點，使總數達到115個。傑富瑞公司是本交易的唯一結構代理，多個法律公司參與了該過程。
Potential Positives
潛在的積極因素
- Successful pricing of the TWNP Series 2024-1 whole business securitization notes strengthens Twin Peaks' financial structure, marking an important step toward its standalone public company goal.
- The refinancing allows FAT Brands to support the growth of Twin Peaks, which is identified as the company's fastest-growing concept.
- Opening of nine new Twin Peaks locations year-to-date brings the total to 115, indicating strong franchise growth and market demand.
- TWNP 2024-1系列全業務證券化債券的成功定價強化了雙子峯的財務結構，標誌着朝着其獨立上市公司目標的重要一步。
- 此次再融資使FAT Brands能夠支持雙子峯的增長，後者被確定爲公司發展最快的概念板塊。
- 截至目前，開設的九個新雙子峯地點使總數達到115，顯示出強勁的特許經營增長和市場需求。
Potential Negatives
潛在負面因素
- The issuance of new notes at a relatively high average interest rate of 9.5% per annum could indicate potential financial distress or high borrowing costs for Twin Hospitality Group, raising concerns about their financial stability.
- The company's reliance on refinancing a whole business securitization credit facility may signal difficulties in their existing capital structure, which could impact investor confidence ahead of the planned public listing.
- The press release mentions the need to stabilize Twin Peaks' financial structure, suggesting prior instability that could raise red flags for potential investors.
- 發行新債券的平均利率相對較高，達到每年9.5%，可能表明Twin Hospitality Group面臨潛在的財務困境或高借款成本，令人擔憂他們的財務穩定性。
- 公司對再融資整個業務證券化信貸工具的依賴可能暗示其現有資金結構存在困難，這可能在計劃的公開上市之前影響投資者的信心。
- 新聞稿提到需要穩定Twin Peaks的財務結構，這表明之前的不穩定可能會引起潛在投資者的警惕。
FAQ
常見問題
What is the recent milestone for Twin Hospitality Group Inc.?
Twin Hospitality Group Inc.最近的里程碑是什麼？
Twin Hospitality Group Inc. has successfully priced new notes to refinance its whole business securitization credit facility.
Twin Hospitality Group Inc.成功定價新債券，以再融資其整個業務證券化信貸工具。
How much is the aggregate principal balance of the new Series 2024-1 notes?
新系列2024-1債券的總本金餘額是多少？
The aggregate principal balance of the new Series 2024-1 notes is $416,711,000 across four tranches.
新系列2024-1債券的總本金餘額爲416,711,000美元，分爲四個部分。
What is the significance of the notes issued by Twin Hospitality Group?
Twin Hospitality Group發行的票據有何重要意義？
The notes are crucial for stabilizing Twin Peaks' financial structure as the company aims for a public listing.
這些票據對穩定Twin Peaks的財務結構至關重要，因爲該公司計劃上市。
How many Twin Peaks locations are currently operational?
目前運營的Twin Peaks門店有多少家？
There are currently 115 operational Twin Peaks locations in the United States and Mexico.
目前在美國和墨西哥運營的Twin Peaks門店有115家。
Who acted as sole structuring agent for the recent transaction?
最近交易的唯一結構代理是誰？
Jefferies LLC acted as the sole structuring agent and sole bookrunner for this transaction.
Jefferies LLC擔任此次交易的唯一結構代理和唯一簿記人。
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
免責聲明：這是由GlobeNewswire分發的新聞稿的人工智能生成摘要。用於總結這份稿件的模型可能會出錯。請在這裏查看完整發佈。
$FAT Insider Trading Activity
$FAt 內部交易活動
$FAT insiders have traded $FAT stock on the open market 9 times in the past 6 months. Of those trades, 9 have been purchases and 0 have been sales.
$FAt 內部人士在過去 6 個月內在公開市場上交易了 $FAt 股票 9 次。在這些交易中，有 9 次是購買，0 次是出售。
Here's a breakdown of recent trading of $FAT stock by insiders over the last 6 months:
以下是過去 6 個月 $FAt 股票內部人士近期交易的詳細信息：
- CUTTER HOLDINGS, LLC FOG has traded it 5 times. They made 5 purchases, buying 4,020 shares and 0 sales.
- MARK ELENOWITZ has traded it 3 times. They made 3 purchases, buying 9,200 shares and 0 sales.
- ANDREW WIEDERHORN purchased 646 shares.
- Cutter Holdings, LLC FOG 交易了 5 次。他們進行了 5 次購買，購買了 4,020 股，0 次出售。
- 馬克·埃萊諾維茨 交易了 3 次。他們進行了 3 次購買，購買了 9,200 股，0 次出售。
- 安德魯·維德霍恩購買了646股。
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
要跟蹤內部交易，請查看Quiver Quantitative的內部交易儀表。
$FAT Hedge Fund Activity
fat對沖基金活動
We have seen 4 institutional investors add shares of $FAT stock to their portfolio, and 16 decrease their positions in their most recent quarter.
我們看到4家機構投資者在他們的投資組合中增加了$FAt股票的股份，16家在最近的季度減少了他們的持倉。
Here are some of the largest recent moves:
以下是最近的一些重大變動：
- TD WATERHOUSE CANADA INC. removed 24,000 shares (-100.0%) from their portfolio in Q3 2024
- SMH CAPITAL ADVISORS INC removed 11,159 shares (-100.0%) from their portfolio in Q2 2024
- SIMPLICITY WEALTH,LLC removed 10,928 shares (-100.0%) from their portfolio in Q2 2024
- BLEAKLEY FINANCIAL GROUP, LLC removed 10,928 shares (-100.0%) from their portfolio in Q2 2024
- ROYAL BANK OF CANADA removed 10,212 shares (-100.0%) from their portfolio in Q3 2024
- FNY INVESTMENT ADVISERS, LLC removed 3,800 shares (-100.0%) from their portfolio in Q2 2024
- COPELAND CAPITAL MANAGEMENT, LLC removed 3,458 shares (-100.0%) from their portfolio in Q2 2024
- TD WATERHOUSE CANADA INC. 在2024年第三季度從他們的投資組合中移除了24,000股（-100.0%）。
- SMH CAPITAL ADVISORS INC在2024年第二季度從他們的投資組合中移除了11,159股（-100.0%）。
- SIMPLICITY WEALTH, LLC 在2024年第二季度從他們的投資組合中移除了10,928股（-100.0%）。
- BLEAKLEY FINANCIAL GROUP, LLC 在2024年第二季度從他們的投資組合中移除了10,928股（-100.0%）。
- 加拿大皇家銀行在2024年第三季度從他們的投資組合中移除了10,212股（-100.0%）。
- FNY INVESTMENT ADVISERS, LLC 在2024年第二季度從他們的投資組合中移除了3,800股（-100.0%）。
- COPELAND CAPITAL MANAGEMENT, LLC 在2024年第二季度減少了3,458股（-100.0%）投資組合中的股份
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
要跟蹤對沖基金的股票投資組合，請查看Quiver Quantitative的機構持有情況儀表。
Full Release
完整發佈
Major Milestone Before Planned Public Listing of Twin Hospitality Group
雙子酒店集團計劃上市之前的重要里程碑
LOS ANGELES, Nov. 18, 2024 (GLOBE NEWSWIRE) --
FAT (Fresh. Authentic. Tasty.) Brands Inc.
, (NASDAQ: FAT), a leading global franchising company and parent company of 18 iconic brands, is pleased to announce that Twin Hospitality Group Inc., the operating unit for its Twin Peaks and Smokey Bones restaurant brands, has priced the issuance of new notes to refinance its whole business securitization credit facility originated in October 2021. The aggregate principal balance of the new Series 2024-1 fixed rate notes (the "Notes") is $416,711,000 across four tranches, with a weighted average interest rate of 9.5% per annum. The issuer of the Notes will be Twin Hospitality I, LLC, a wholly-owned subsidiary of Twin Hospitality Group Inc.
洛杉磯，2024年11月18日（環球新聞通訊社） --
FAT Brands（新鮮、真實、美味）公司
（納斯達克：FAT），一家領先的全球特許經營公司，旗下擁有18個標誌性品牌，欣然宣佈，雙子酒店集團有限公司（Twin Hospitality Group Inc.）作爲其雙子峯（Twin Peaks）和煙骨（Smokey Bones）餐廳品牌的運營單位，已爲其整體商業證券化信貸設施定價以再融資，該信貸設施始於2021年10月。新系列2024-1固定利率票據（以下簡稱「票據」）的總本金餘額爲416,711,000美元，分爲四個分層，平均利率爲每年9.5%。票據的發行人將是雙子酒店I有限公司（Twin Hospitality I, LLC），是雙子酒店集團有限公司的全資子公司。
|
Closing Date |
Class |
Seniority |
Principal Balance |
Coupon |
Anticipated Repayment Date |
Final Legal Maturity Date |
||
|
11/21/2024 |
A-2-I |
Super Senior |
$ |
12,124,000 |
9.00 % |
10/25/2027 |
10/26/2054 |
|
|
11/21/2024 |
A-2-II |
Senior |
$ |
269,257,000 |
9.00 % |
10/25/2027 |
10/26/2054 |
|
|
11/21/2024 |
B-2 |
Senior Subordinated |
$ |
57,619,000 |
10.00 % |
10/25/2027 |
10/26/2054 |
|
|
11/21/2024 |
M-2 |
Subordinated |
$ |
77,711,000 |
11.00 % |
10/25/2027 |
10/26/2054 |
|
|
交割日期 |
課堂 |
優先權 |
本金餘額 |
票息 |
預計還款日期 |
最終法律到期日 |
||
|
11/21/2024 |
A-2-I |
超級優先 |
$ |
12,124,000 |
9.00 % |
10/25/2027 |
10/26/2054 |
|
|
11/21/2024 |
A-2-II |
高級 |
$ |
269,257,000 |
9.00 % |
10/25/2027 |
10/26/2054 |
|
|
11/21/2024 |
b-2 |
高級次級 |
$ |
57,619,000 |
10.00 % |
10/25/2027 |
10/26/2054 |
|
|
11/21/2024 |
m-2 |
次級 |
$ |
77,711,000 |
11.00 % |
10/25/2027 |
10/26/2054 |
|
The Notes may be exchanged for a proportionate interest in Exchangeable Notes in two tranches, referred to as Class A2IIB2 (up to $326,876,000) and Class A2IIB2M2 (up to $404,587,000), which reflect in the aggregate the characteristics of the corresponding exchanged Notes.
這些票據可以分爲兩個部分，與可交換票據的比例利益進行交換，分別稱爲A2IIB2類（最多326,876,000美元）和A2IIB2M2類（最多404,587,000美元），它們反映了所交換票據的特徵。
Ken Kuick, Co-CEO of FAT Brands, said, "We are pleased to announce the successful pricing of the TWNP Series 2024-1 whole business securitization notes. This financing stabilizes Twin Peaks' financial structure and represents a key milestone as we work toward the goal of creating a standalone public company."
FAT Brands的聯席首席執行官Ken Kuick表示："我們很高興地宣佈成功對TWNP系列2024-1整體業務證券化票據進行定價。這筆融資穩定了Twin Peaks的財務結構，標誌着我們朝着創建一家獨立上市公司的目標邁出了重要的一步。"
Kuick continued, "Additionally, the refinancing allows us to further drive the growth of Twin Peaks, our fastest-growing concept. Twin Peaks' compelling unit economics continue to fuel strong demand from both existing and potential franchisees seeking new locations. Year to date, we have opened nine new lodges bringing our total to 115 Twin Peaks locations."
Kuick繼續說道："此外，再融資使我們能夠進一步推動Twin Peaks的增長，這是我們增長最快的概念。Twin Peaks的有吸引力的單位經濟規模繼續推動現有和潛在特許經營者對新地點的強烈需求。今年迄今爲止，我們已開設九家新旅館，使我們總共擁有115個Twin Peaks地點。"
Jefferies LLC acted as sole structuring agent and sole bookrunner for this transaction. Legal advisors were Katten Muchin Rosenman LLP for FAT Brands Inc., and King & Spalding LLP for Jefferies LLC.
Jefferies LLC擔任本交易的唯一結構代理和唯一簿記管理人。法務顧問爲FAT BRANDS INC的Katten Muchin Rosenman LLP，以及Jefferies LLC的King & Spalding LLP。
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security. The Notes have not been, and will not be, registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933.
此新聞稿不構成出售或請求購買票據或其他任何證券的要約。這些票據尚未並將不會根據1933年證券法進行註冊，且在未註冊或適用的免責情況下，不得在美國提供或出售。
About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo's Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit
.
關於FAT（新鮮、正宗、美味）品牌
FAT Brands（納斯達克：FAT）是一家領先的全球特許經營公司，戰略性地收購、營銷和開發快速休閒、快餐、休閒餐飲和優雅休閒餐飲概念。公司目前擁有18個餐廳品牌：Round Table Pizza、Fatburger、Marble Slab Creamery、Johnny Rockets、Fazoli's、Twin Peaks、Great American Cookies、Smokey Bones、Hot Dog on a Stick、Buffalo's Cafe & Express、Hurricane Grill & Wings、Pretzelmaker、Elevation Burger、Native Grill & Wings、雅樂科技地中海和Ponderosa和Bonanza Steakhouses，並在全球擁有和特許經營超過2,300個單位。有關FAT Brands的更多信息，請訪問
.
About Twin Peaks
Founded in 2005 in the Dallas suburb of Lewisville, Twin Peaks franchises and owns 115 restaurants in the United States and Mexico. Twin Peaks is the ultimate sports lodge featuring made-from-scratch food and the coldest beer in the business, surrounded by scenic views and wall-to-wall TVs. For more information, visit
twinpeaksrestaurant.com
.
關於雙峯餐廳
雙峯餐廳成立於2005年，位於達拉斯的Luisville郊區，擁有並特許經營115家餐廳，分佈在美國和墨西哥。雙峯餐廳是終極的體育酒吧，提供從零開始製作的美食和行業內最冷的啤酒，周圍環繞着美麗的風景和壁掛電視。更多信息，請訪問
twinpeaksrestaurant.com
.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results, including consummation and benefits of the potential transaction discussed in this press release, to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the Form 10 Registration Statement filed by Twin Hospitality Group Inc., and the documents filed by FAT Brands Inc. from time to time with the SEC, such as its reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these risks, uncertainties and contingencies. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release
.
前瞻性聲明
本新聞稿包含1995年私人證券訴訟改革法案所定義的前瞻性聲明。前瞻性聲明受到重大的業務、經濟和競爭風險、不確定性和偶然事件的影響，其中許多是難以預測且超出我們控制範圍的，這可能導致我們的實際結果，包括本新聞稿中討論的潛在交易的完成和利益，顯著不同於這些前瞻性聲明中表達或暗示的結果。我們提請您查閱Twin Hospitality Group Inc.提交的註冊表10表，以及FAT Brands Inc.不時向美國證券交易委員會提交的文件，如Form 10-k、Form 10-Q和Form 8-k上的報告，以討論這些風險、不確定性和偶然事件。我們沒有義務更新任何前瞻性聲明，以反映本新聞稿日期後發生的事件或情況。
.
Investor Relations:
ICR
Michelle Michalski
IR-FATBrands@icrinc.com
646-277-1224
投資者關係：
ICR
米歇爾·米哈爾斯基
IR-FATBrands@icrinc.com
646-277-1224
Media Relations:
FAT Brands Inc.
Erin Mandzik
emandzik@fatbrands.com
860-212-6509
媒體關係：
FAT BRANDS INC 8.25% CUM PREF STK SER B
埃琳·曼茲基克
emandzik@fatbrands.com
860-212-6509
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