WILBRAHAM, Mass.--(BUSINESS WIRE)--Friendly Ice Cream Corporation (AMEX: FRN - news) today announced the successful completion of its financial restructuring plan. The restructuring involves the refinancing of the Company's $76 million existing bank credit facility, which includes the revolving credit loan, term loans and letters of credit, and the repurchase of approximately $21 million in aggregate principle amount of its 10 1/2% Senior Notes due 2007.