14-07-2025
Sandwich Chain Jersey Mike's to Raise $400 Million in Asset Backed Securities
Jersey Mike's is planning to sell $400 million of asset backed securities to potentially help pay out money to Blackstone Inc., the private equity firm that bought a majority stake in the sandwich restaurant chain earlier this year.
The company is selling a type of debt known as a whole business securitization bonds, which are backed by Jersey Mike's assets including fees from franchises and US trademarks. The securities are set to be rated BBB by S&P Global Ratings and Kroll Bond Rating Agency, according to person with knowledge of the transaction.
