Real Mex Restaurants, Inc. Closes Private Placement of $130 Million of 14% Senior Secured Notes Due 2013
Real Mex Restaurants, Inc. ('RMR') announced today the successful completion of the previously announced private placement of $130 million of senior secured notes.
The 14% notes mature on January 1, 2013 and were priced at 90% of the principal amount to yield 17.983%. The offering was made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), a limited number of institutional accredited investors and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. RMR will use the net proceeds from the offering to repay its existing senior secured notes and to pay certain related fees and expenses associated with the transaction.
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