Wendy’s looks to refinance $1.3 billion credit facility with new notes

By Susanna Moon

Chicago, May 6 – Wendy’s Co. said it plans to refinance its senior secured credit facility, which had a balance of $1.3 billion as of March 29.

The company plans to replace the facility with a new securitized financing facility, expected to consist of $2.275 billion of senior term notes and $150 million of variable funding notes, according to a company press release.

Proceeds will be used to repay the company’s senior secured debt and for general corporate purposes, including the return of cash to shareholders.

The company said it cannot make any assurances about whether refinancing will be completed.

Wendy’s is a Dublin, Ohio-based fast food chain.

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