Bojangles Refinances Senior Debt

Bojangles’ Restaurants has announced a refinancing of its $200 million senior debt facility, significantly lowering its borrowing costs. Bank of America Merrill Lynch served as lead arranger with Wells Fargo, Fifth Third Bank and Regions Bank as joint lead arrangers. KeyBank, Cadence Bank and Royal Bank of Canada also participated in the facility.

PRESS RELEASE

Bojangles’ Restaurants, Inc. announced today a refinancing of its $200 million
senior debt facility, significantly lowering its borrowing costs. Bank
of America Merrill Lynch served as lead arranger with Wells Fargo,
Fifth Third Bank and Regions Bank as joint lead arrangers. KeyBank,
Cadence Bank and Royal Bank of Canada also participated in the
facility.

“This is a big step forward for Bojangles’ and provides a new platform
which will strengthen our overall financial performance and accelerate
new growth plans,” said John Jordan, Chief Financial Officer for
Bojangles’ Restaurants, Inc.

With more than 530 restaurants in 10 states and Washington, D.C.,
Bojangles’ is one of the fastest growing restaurant chains in the
country. As a regional brand, Bojangles’ same-store sales results have
outperformed the broader QSR industry for over the past nine years, and
the chain continues to experience higher growth rates than its national
competitors. The company is also on track to generate $870 million in
system-wide sales in 2012.

About Bojangles’

Founded in 1977 in Charlotte, N.C., Bojangles’ Restaurants Inc. serves
only the highest quality and most flavorful food to its loyal
customers, with all of its proprietary menu items made from scratch. A
special blend of seasonings gives the food its unique flavor, including
Bojangles’ core menu selections of seasoned chicken,
fresh-made-from-scratch buttermilk biscuits and Legendary Iced Tea(TM)
steeped the old-fashioned way. Bojangles’ also offers biscuit
sandwiches that are served all day. Unique sides like Dirty Rice(TM),
Cajun Pintos(TM) and Seasoned Fries are just a few of the flavorful
fixin’ choices. First franchised in 1978, Bojangles’ boasts more than
530 locations in 10 states and Washington, D.C., primarily in the
Southeast.

In the 2011 and 2012 Nation’s Restaurant News survey, Bojangles’ ranked
number one in terms of new unit growth in the chicken category. Among
drive-thru, quick service concepts, Bojangles’ was the fastest growing
chain in the same survey. QSR magazine recognized Bojangles’ in its
list of 2011 and 2012 “Top 10 Franchise Opportunities” and GE Capital
listed the brand as one of the top 10 growth concepts in 2010. Inc
magazine has included Bojangles’ in its list of fastest growing private
companies for several years. The company’s strong performance in all
three day parts, breakfast all day and its “made-from-scratch” recipes
set Bojangles’ apart from all other restaurants.