Wendy's (WEN) says it will save $19M in annual interest expense by refinancing $350M of a senior...

|About: The Wendy's Company (WEN)|By:, SA News Editor

Wendy's (WEN) says it will save $19M in annual interest expense by refinancing $350M of a senior secured term loan. The Y/Y reduction in interest expense is ~175 basis points, the company said late Wednesday. When combined with previous refinancings, WEN says its annual interest expense is $50M lower than it was two years ago which should "benefit cash flow and EPS" going forward.