Landry’s settles investors’ $400M payment demands

GALVESTON Texas Landry’s Restaurants Inc. reached a settlement Aug. 20 with bondholders that had demanded immediate repayment of $400 million in unsecured notes, which Landry’s said could have caused it “irreparable harm.”

Landry’s agreed to pay 9.5-percent interest on its formerly 7.5-percent notes, and it has the option to redeem them in 18 months, or the bondholders can call them.

Landry’s had asked a federal judge to make permanent a temporary i

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