Nathan's Famous Announces Pricing Of $135 Mln Senior Secured Notes Due 2020

(RTTNews) - Nathan's Famous Inc. (NATH) said Friday it has priced an offering of $135.0 million aggregate principal amount of its 10.000% Senior Secured Notes due 2020. The offering was increased from a prior announced size of $125.0 million in aggregate principal amount of Notes.

The company intends to use the net proceeds of the Notes offering to pay a special dividend of up to around $116.0 million to its stockholders of record and the remaining net proceeds for general corporate purposes, including working capital. If the Notes offering is consummated, the Nathan's board of directors will set the record date and the payment date of the dividend following closing.

Subject to customary closing conditions, Nathan's expects the offering to close on March 10, 2015.