Tropical Smoothie Eyes $610 Million Securitization
- Whole-business deals are popular among franchise-heavy firms
- Such transactions have surged this year in a hot ABS market
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Tropical Smoothie Café is attempting to raise $610 million in its first-ever securitization, just two months after Blackstone Inc. funds acquired the drinks-and-food chain.
The deal, structured as a whole-business transaction, is expected to price this week and will in part refinance debt, according to a person familiar with the matter who asked not to be identified because the information is private.