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Wendy’s draws down $120 million under revolving facility
By Wendy Van Sickle
Columbus, Ohio, March 26 – Wendy’s Co. increased its cash position by drawing down $120 million under its revolving financing facility, according to a news release.
Including the drawdown, the company said it has more than $340 million in cash on hand.
The increased borrowing was taken as a precautionary measure to provide enhanced financial flexibility considering the uncertain market conditions arising from the Covid-19 pandemic, the company said.
Wendy’s is a Dublin, Ohio-based fast food chain.
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