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REGI TO DEFEASE CHI-CHI'S SUBORDINATED DEBT

 SAN DIEGO, Jan. 7 /PRNewswire/ -- In connection with the proposed sale of the CHI-CHI's Mexican Restaurant chain to Restaurant Enterprises Group Inc. (REGI), Foodmaker Inc. (NYSE: FM) announced today that the subordinated debentures due October 2009, originally issued by CHI-CHI's, would be retained by CHI-CHI's, and it is currently contemplated that upon completion of the transaction, which is subject to customary conditions, such debentures will be defeased, which would require that they be called for redemption within one year.
 The principal amount of the outstanding debentures is approximately $30 million.
 The sales transaction is expected to close within the next 30 to 45 days. In the unlikely event that the transaction is not completed, Foodmaker will continue to make regular interest payments on the debentures, company officials said.
 -0- 1/7/94
 /CONTACT: Sheree Zizzi, 619-571-2248/
 (FM)


CO: Foodmaker Inc.; Restaurant Enterprises Group Inc.;
 CHI-CHI's Mexican Restaurant ST: California IN: LEI SU:


JL-JM -- SD002 -- 0092 01/07/94 11:01 EST
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Publication:PR Newswire
Date:Jan 7, 1994
Words:161
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