Restaurant Brands International Inc. subsidiaries 1011778 B.C. Unlimited Liability Co. and New Red Finance Inc. have, as issuers, launched an offering of $750 million in aggregate principal amount of its 3.875% first-lien senior secured notes due 2028.
The operator of Burger King, Popeyes and Tim Hortons restaurants said the proceeds from the offering and borrowings from a Sept. 6 new loan term facility will be used to redeem its outstanding 4.625% first-lien senior secured notes due 2022, as well as to pay related fees and expenses.
The issuers expect to redeem the 2022 notes on or around Oct. 6, the Canadian restaurant operator said.
