Taco Bell Funding LLC Completes Refinancing with Issuance of Senior Secured Notes

Details

The notes were issued under a Second Amended and Restated Base Indenture and related Series 2025-1 Supplement. The net proceeds were used to repay the Issuer's Series 2016-1 Class A-2-III Notes and for general corporate purposes. The legal final maturity date of the notes is August 2055, with anticipated repayment dates in August 2030 and August 2032 for the respective tranches. The notes are secured by substantially all assets of the Issuer and its special purpose subsidiaries, including U.S. Taco Bell franchise and license agreements and intellectual property.

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About Yum! Brands, Inc.

Yum! Brands, Inc. operates as one of the world’s largest fast-food restaurant companies, specializing in the development and management of globally recognized brands such as KFC, Pizza Hut, and Taco Bell. The company focuses on offering a diverse array of consistent, value-driven food options that cater to a wide range of consumer tastes and preferences. With its entrepreneurial franchise business model, Yum! Brands extends its global footprint across numerous countries, with thousands of restaurants strategically located to reach a vast customer base. A notable feature of the company includes its ability to integrate localized flavors and menu customizations while maintaining brand consistency and operational efficiency. Headquartered in Louisville, Kentucky, Yum! Brands plays a significant role in the quick-service restaurant industry, leveraging its significant scale and brand equity to influence market trends and consumer behavior.