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Company Overview of Wendy's Restaurants LLC
Wendy’s Restaurants, LLC, through its subsidiary, Wendy’s International, Inc., operates as an owner and franchisor of the Wendy’s restaurant system primarily in the United States. The company engages in developing, operating, and franchising a system of quick-service restaurants in the hamburger sandwich segment. As of January 1, 2012, it operated a network of 6,244 Wendy’s restaurants in North America, including 1,417 operated by the company and 4,827 operated by a total of 454 franchisees. Wendy’s Restaurants, LLC also operated 350 franchised Wendy’s restaurants in 26 countries and territories other than North America. The company was formerly known as Wendy’s/Arby’s Restaurants, LLC and c...
One Dave Thomas Boulevard
Dublin, OH 43017
Founded in 1964
Key Executives for Wendy's Restaurants LLC
Chief Executive Officer of Arby's Restaurant Group Inc and President of Arby's Restaurant Group Inc
President of Wendy's International Inc
Compensation as of Fiscal Year 2013.
Wendy's Restaurants LLC Key Developments
Wendy's Restaurants LLC Issues Notice of its Election to Redeem All of its Outstanding 10.00% Senior Notes Due 2016
Jun 15 12
On June 15, 2012, Wendy's Restaurants LLC issued notice of its election to redeem all of its outstanding 10.00% Senior Notes due 2016 on July 15, 2012, at a redemption price of 107.5% of the principal amount thereof plus accrued and unpaid interest, if any, to the redemption date.
Wendy's International, Inc. Announces Completion of New Senior Secured Credit Facility by Wendy's International, Inc. and Completion of Tender Offer by Wendy's Restaurants LLC for its 10.00% Senior Notes Due 2016
May 15 12
The Wendy's Company announced that Wendy's International, Inc., its wholly-owned subsidiary has completed a new senior secured credit facility, which includes a $200 million revolving credit facility and a $1,125 million term loan. Proceeds from initial borrowings of $625.7 million under the new term loan were used to retire approximately $466.7 million of outstanding indebtedness under the existing senior secured credit facility of Wendy's Restaurants LLC, the company's wholly-owned subsidiary and Wendy's International's direct parent company to purchase $124.225 million aggregate principal amount of Wendy's Restaurants' 10.00% Senior Notes due 2016 (CUSIP No. 95058TAB3) in the tender offer described below, and to pay related fees and expenses. The interest rate on the new senior secured credit facility is based on a LIBOR rate, which has a floor of 1.25%, plus 3.5%, or a base rate, which has a floor of 2.25%, plus 2.5%. The term loan was issued at 99.0% of par, which represented an original issue discount of 1.0%. Bank of America, N.A. and Wells Fargo Securities, LLC served as joint lead arrangers and joint book managers for the new credit facility. The company also announced now the expiration and the final results of the previously announced tender offer by Wendy's Restaurants to purchase for cash any and all of its outstanding Notes. The tender offer expired at the end of the day, 12:00 midnight, New York City time, on May 14, 2012. Pursuant to the tender offer, Wendy's Restaurants purchased $124.225 million aggregate principal amount, or approximately 22%, of the outstanding $565 million aggregate principal amount of Notes.
Wendy's Restaurants LLC Announces Tender Offer for its 10.00% Senior Notes Due 2016
May 8 12
The Wendy's Company announced that Wendy's Restaurants LLC, is waiving a condition to its previously announced tender offer to purchase for cash any and all of its outstanding 10.00% senior notes due 2016. In connection with the tender offer, the company is soliciting consents from holders of the notes to certain proposed amendments to the indenture governing the notes and the notes. The company is waiving the 'Supplemental Indenture Condition' to the tender offer and consent solicitation, which requires that consents by holders of a majority in aggregate principal amount of the outstanding notes not owned by Wendy's Restaurants or any of its affiliates be received and not validly revoked and the supplemental indenture to amend and supplement the indenture governing the notes to give effect to the proposed amendments be executed by Wendy's Restaurants and U.S. Bank National Association, as trustee. Wendy's Restaurants will continue soliciting consents from holders of the notes until the expiration date.
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