Wendy’s of Missouri, Inc., Wendy’s of New England, LLC and Hamra Chicago, LLC, (collectively, “Hamra Wendy’s”) and Chicago Bread, LLC and Boston Bread, LLC, (collectively “Hamra Panera”), a Springfield, MO based Wendy’s and Panera Bread franchisee along with an affiliate Jade Properties, LLC, (“Jade Properties”), collectively, “Hamra Group”, has recapitalized its balance sheet and obtained new financing including real estate financing and business financing. The business financing included a senior secured term loan, a development line of credit and a revolving line of credit. The loans were used to refinance the company’s existing debt, provide funds for remodels and for the development of new restaurants.
The financing optimized the company’s capital structure:- providing significantly increased debt capacity,
- enlarging development lines of credit,
- dramatically increasing free cash flow,
- providing a more flexible revolving line of credit,
- 25-year amortization on the real estate term loan, and
- separate loan covenants for the operating and the real estate companies
Hamra Group currently owns and operates 90 Wendy’s and 55 Panera Bread in Illinois, Massachusetts, Missouri, New Hampshire and Texas. Jade Properties owns the real estate underlying 25 restaurant properties.
