Wendy's subsidiaries to issue $400M in new securitized notes; proceeds to repay existing debt

Wendy's Co

New $400M fixed rate senior secured notes (Series 2025-1 Class A-2) to be issued.
Proceeds to repay $400M of existing debt including 3.783% notes and 7% debentures due Dec 2025.
Remaining proceeds for transaction fees, growth initiatives, return of capital to shareholders.
Offering subject to market conditions; no guarantee of completion.
Notes sold under exemption from registration; no public offering.

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