Subsequent Event (Notes)

3 Months Ended

Mar. 31, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Event

Debt Refinancing

On April 16, 2013, Wendy’s entered into an amendment (the “Amendment”) to refinance its Credit Agreement dated as of May 15, 2012 (the “Credit Agreement”). The Amendment provides that, subject to the satisfaction of certain closing conditions, the Credit Agreement, and certain other loan documents, will be amended and restated in the form attached to the Amendment (the “Restated Credit Agreement”). The closing is expected to occur on or after May 16, 2013. The Restated Credit Agreement is comprised of (1) a $350,000 senior secured term loan facility (“Term Loan A”) which will mature on May 15, 2018 and bear interest at LIBOR plus 2.25%, (2) a $769,375 senior secured term loan facility (“Term Loan B”) which will mature on May 15, 2019 and bear interest at LIBOR plus 2.50% with a floor of 0.75% and (3) a $200,000 senior secured revolving credit facility which will mature on May 15, 2018. The Restated Credit Agreement does not contain any material changes to existing covenants or other terms of the Credit Agreement, except as described herein. Wendy’s anticipates that it will incur approximately $5,500 in fees related to the refinancing.

In connection with the refinancing of its existing Credit Agreement, Wendy’s anticipates it will record debt extinguishment costs of up to approximately $21,100 in the second quarter of 2013.