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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.