The whole-business securitization sector makes a relatively minor impact on the capital markets, in terms of volume. Just a handful of the deals come to market each year. Yet the asset class has given the capital markets a lot to talk about lately. In one year, both the DB Master Trust - better known as the Dunkin' Brands transaction from May 2006 - and the Domino's Pizza deal from last April pushed about $3.5 billion of asset-backed paper onto the market.
Now, Wendy's International is considering a securitization as part of several options to boost the company's value. A total sale of the company, however, is Wendy's International's main focus at this point. Two weeks ago, the company cut its 2007 earnings forecast and said it was considering putting itself up for sale. A couple of months before that, it said that it hired JP Morgan Chase & Co. and Lehman Brothers as financial advisers for a possible deal. No