Uno makes bond payment, recapitalization talks end

LOS ANGELES, Sept 15 (Reuters) - Privately held Uno Restaurant Holdings Corp paid a delayed bond interest payment and ended proposed recapitalization talks with bondholders, the owner of more than 200 Uno Chicago Grills said on Monday.

The Boston-based company also said that it expects that future interest payments will be made "in a timely fashion."

The Boston-based company said in August that it was exercising a contractual right to a 30-day grace period on making the interest payment and that it had entered recapitalization talks with investors in its bonds.

The decision to delay the payment sparked downgrades from major debt rating agencies and raised concerns of a default.

The company said on Monday that it could not reach acceptable terms for a recapitalization.

"Given the company's current level of profitability and liquidity position, we did not feel compelled to agree to terms that were not in the best interests of the company," Uno's Chief Financial Officer Louie Psallidas said in a statement. (Reporting by Lisa Baertlein)