In the event that Wendy’s Restaurants receives Consents from holders of a majority in aggregate principal amount of the outstanding Notes not owned by Wendy’s Restaurants or any of its affiliates (the “Required Consents”), Wendy’s Restaurants and U.S. Bank National Association, as trustee, will execute a supplemental indenture giving effect to the Proposed Amendments, which amendments would become operative when validly tendered Notes are accepted for purchase by Wendy’s Restaurants pursuant to the Offer. Wendy’s Restaurants has been advised by Global Bondholder Services Corporation that, as of the Early Tender Deadline, the Required Consents have not been delivered.The Proposed Amendments would, among other modifications, eliminate substantially all of the restrictive covenants and certain event of default provisions contained in the indenture governing the Notes. Holders may not tender their Notes without delivering their Consents to the Proposed Amendments, and holders may not deliver their Consents to the Proposed Amendments without tendering their Notes in the Offer.
The Wendy’s Company Announces Early Results Of Cash Tender Offer By Wendy’s Restaurants, LLC For Its 10.00% Senior Notes Due 2016 And Amendments To Tender Offer
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