Restaurant Brands International Inc.
Restaurant Brands International Announces $1.2B Notes Issuance and Credit Facility Amendment
Summary
On June 17, 2024, Restaurant Brands International Inc. announced the issuance of $1.2 billion in 6.125% First Lien Senior Secured Notes due 2029 and an amendment to its Term Loan B Facility reducing the interest rate and principal amount. The notes will be used to refinance a portion of the Term Loan B Facility, pay related fees and expenses, and for general corporate purposes. The amendment to the credit agreement reduces the interest rate from Adjusted Term SOFR Rate plus 2.25% per annum to Adjusted Term SOFR Rate plus 1.75% per annum and the principal amount from $5.912 billion to $4.750 billion.
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About Restaurant Brands International Inc.
Restaurant Brands International Inc. is a Canadian multinational fast-food holding company that owns, operates, and franchises quick-service restaurants, including renowned brands such as Burger King, Tim Hortons, and Popeyes Louisiana Kitchen. The primary function of the company is to serve customers globally through a diverse array of menu offerings catering to local tastes and preferences. Known for its robust franchise model, Restaurant Brands International empowers local entrepreneurs, thereby fostering a wide-reaching and adaptable presence across various regions. The conglomerate impacts several sectors, notably the food and beverage industry, by setting trends in fast food innovations, digital ordering, and sustainability practices. Restaurant Brands International plays a crucial role in the global fast-food market by leveraging its powerful brand portfolio to drive customer engagement and expand market share. With a focus on operational excellence, strategic acquisitions, and enhancing consumer experiences, Restaurant Brands International continues to solidify its position as a leader in the fast-casual dining segment.
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