Guggenheim Securities is structuring a $300 million whole business securitization for Hooters of America.

The deal, HOA Funding, is backed by all existing and future franchise agreements, company-operated restaurants and related intellectual property, according to Kroll Bond Ratings. The transaction will include all of the issuer’s 415 restaurants, located in 42 states, Washington D.C. and 24 countries and territories.

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