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 Shoney's Inc. said 
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it will report a write-off of $2.5 million, or seven cents a share, for its fourth quarter 
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ended yesterday.
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 The restaurant operator cited transaction costs from its 1988 recapitalization 
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as a result of a $160 million restructuring of its bank debt.
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 The write-off will be reported as an extraordinary item in the company's 1989 operating results.
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 In addition, the effective interest rate on the $410 million of total remaining bank debt after the restructuring is 10.66%.
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 The combined effect of these changes is expected to save the company about $4 million in interest expenses next year, or six cents a share.
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 Shoney's said 
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the latest restructuring affected bank indebtedness 
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that was incurred 
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to finance $585 million of the company's $728 million recapitalization 
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that took place in 
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 The company has made payments of $175 million against the original $585 million of bank debt 
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incurred in connection with the recapitalization.
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 These payments consisted of $54 million in scheduled payments and $121 million in prepayments, 
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funded by $82.8 million from operating cash flow, zero-coupon subordinated debt and assets sales.
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