We represented Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL), the well-known chain of Old Country Store restaurant and gift stores founded in 1969 and located in 45 states, in its issuance and sale of $345 million aggregate principal amount of 1.75% Convertible Senior Notes due 2030. The offering included the exercise in full of the initial purchasers’ option to purchase up to an additional $45 million principal amount of the notes. Proceeds will support the company’s ongoing strategic transformation of its stores and menu in the coming years, as well as the repayment of a prior series of convertible notes, a transaction with which we also assisted.
$345 Million Senior Notes Offering for Cracker Barrel Old Country Store, Inc.
$345 Million Senior Notes Offering for Cracker Barrel Old Country Store, Inc.
We represented Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL), the well-known chain of Old Country Store restaurant and gift stores founded in 1969 and located in 45 states, in its issuance and sale of $345 million aggregate principal amount of 1.75% Convertible Senior Notes due 2030. The offering included the exercise in full of the initial purchasers’ option to purchase up to an additional $45 million principal amount of the notes. Proceeds will support the company’s ongoing strategic transformation of its stores and menu in the coming years, as well as the repayment of a prior series of convertible notes, a transaction with which we also assisted.