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These excerpts taken from the WEN 10-K filed Mar 14, 2008. Market Square
CLO
Market Square
CLO’s debt securities bear interest rates that reset quarterly based on varying
spreads to three-month LIBOR. The Company’s long-term debt issued by Market
Square CLO has a weighted average interest rate of 5.67% and 5.87%, using the
last reset dates as of December 31, 2007 and 2006, respectively.
The Market
Square CLO notes are due in 2017, but were initially callable, at par, by the
Company on July 20, 2007 and quarterly thereafter subject to certain conditions.
Market Square CLO is a consolidated bankruptcy remote subsidiary and the debt
holders have recourse only to the collateral of Market Square CLO, which had a
carrying value of $291.0 million and $305.3 million as of December 31, 2007 and
2006, respectively.
Market Square CLO Market Square CLO’s debt securities bear interest rates that reset quarterly based on varying spreads to three-month LIBOR. The Company’s long-term debt issued by Market Square CLO has a weighted average interest rate of 5.67% and 5.87%, using the last reset dates as of December 31, 2007 and 2006, respectively. The Market Square CLO notes are due in 2017, but were initially callable, at par, by the Company on July 20, 2007 and quarterly thereafter subject to certain conditions. Market Square CLO is a consolidated bankruptcy remote subsidiary and the debt holders have recourse only to the collateral of Market Square CLO, which had a carrying value of $291.0 million and $305.3 million as of December 31, 2007 and 2006, respectively. | EXCERPTS ON THIS PAGE:
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