Mon 09/09/2024 13:02 PM
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Legal Research: Rebecca DeLong

Relevant Items:
Unsecured Notes Due 2032 Primary Covenant Analysis
Preliminary Offering Memorandum

Shearer’s Foods is issuing senior notes due 2032 (the “2032s”), to be issued by subsidiary entity Fiesta Purchaser Inc. (the “Issuer”). The proceeds of the bonds will be used to fund a cash distribution to the Issuer’s indirect parent to redeem partnership interests of such indirect parent. Price talk is 9.75% to 10%.

The covenant package for...
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