Sandwich Chain Subway’s Bond Sale for Buyout Eyed for Next Week
- The size of the debut ABS deal hasn’t yet been determined
- Whole business deals well-worn funding tool for restaurants
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Banks plan to kick off a bond sale as soon as next week to help pay for Roark Capital Group’s buyout of restaurant chain Subway, according to people with knowledge of the matter.
The sandwich maker will raise funds using what’s known as a whole business securitization, where a company pledges most of its assets as collateral. The size of the debut deal, led by structuring advisors Morgan Stanley and Barclays Plc, hasn’t been determined, the people said, declining to be identified as the details are private.