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"Investors are flush with cash and are willing to put it to work in stable credits that have a quality management team and that don't have any negative accounting issues associated with them," Jim Esposito, debt syndicate manager at Goldman told Dow Jones Newswire
In similar deal last November, Wendy's priced a 10-year bond 90 basis points wider than where the current deal priced.
"The interest in new deals is a function of the market wanting new issue supply," one portfolio manager told Dow Jones.