Wendy's/Arby's seeks amendment to permit more debt, modify covenants

By Sara Rosenberg

New York, June 1 - Wendy's/Arby's Group Inc. is looking to amend its credit facility to allow for the incurrence of additional debt and revise financial covenants, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The company said that the amendment is part of an ongoing assessment of strategic financing alternatives to provide additional capacity to access the capital markets in order to improve overall financial flexibility, obtain additional debt capital to assure funding availability for its key strategic growth initiatives and reduce the risk of refinancing future debt maturities in light of recent turmoil in the credit markets.

Wendy's/Arby's is an Atlanta-based quick-service restaurant company.

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