Mrs. Fields Cooks Up Debt Deal With Carlyle, Z Capital

Law360, New York (November 18, 2011, 7:46 PM EST) -- Private equity firms Z Capital Partners LLC and The Carlyle Group, two of troubled Mrs. Fields Famous Brands LLC's major creditors, have struck a tentative deal with the company to refinance an undisclosed portion of its debt, the company announced Friday.

The deal, which Mrs. Fields expects will close by Dec. 5, will make Z Capital and Carlyle the company's largest shareholders. Terms of the transactions, which began Oct. 21, have not been disclosed.

The transactions are an effort to return the struggling snack maker's 950...
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