Our Finance Group helps clients navigate the business and legal complexities of novel and multidimensional debt financing transactions. We fully understand the challenges faced by borrowers, investors and lenders throughout a company’s lifecycle, from evolving techniques in acquisition finance to the tensions inherent in distressed situations. We are the firm of choice for the most innovative and complex financing matters, including bespoke structured financings and whole-business securitizations of novel assets and restructurings of multibillion-dollar companies.
The Wendy's Company Completes Refinancing
- Client News
- January 17, 2018
Paul, Weiss represented The Wendy's Company in connection with the refinancing of a portion of its 2015 whole business securitization. The company completed the sale of $450 million of its 3.573% fixed rate senior secured class A-2-I notes and $475 million of its 3.884% fixed rate senior secured class A-2-II notes, which were rated BBB by S&P. The company also issued $150 million of variable funding notes, allowing it to borrow amounts on a revolving basis. The refinancing extended the maturity of the company’s existing debt, improved the coupon and provided the opportunity to make certain amendments to the existing transaction documents.
The Paul, Weiss team included, among others, corporate partners Jordan Yarett, Robert Zochowski and John Kennedy; tax partner Jeffrey Samuels and counsel Alyssa Wolpin; intellectual property partner Claudine Meredith-Goujon; bankruptcy partners Alice Eaton and Kyle Kimpler; and employee benefits counsel Uri Horowitz.