trending Market Intelligence /marketintelligence/en/news-insights/trending/u4z0WOyCyTXJPPw0e2QlNg2 content esgSubNav
In This List

Restaurant Brands prices, upsizes senior notes offering

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Restaurant Brands prices, upsizes senior notes offering

1011778 B.C. Unlimited Liability Co. and New Red Finance Inc., subsidiaries of Restaurant Brands International Inc., on Sept. 6 priced their previously announced offering of $500 million aggregate principal amount of 3.875% first lien senior secured notes due 2028 and upsized it from an aggregate principal amount of $500 million to $750 million.

The notes were priced at 100.000% of their face value and will mature Jan. 15, 2028.

The issuers also entered into a new loan term facility with an aggregate principal amount of $750 million. It also amended its existing revolving credit facility to increase the amount of commitments under it to $1 billion and extend its maturity to 2024.

The offering of the senior notes due 2028 is expected to close on or about Sept. 24.

Restaurant Brands plans to use the proceeds from the offering and borrowings from the new loan term facility to redeem all of its outstanding $1.25 billion aggregate principal amount of 4.625% first lien senior secured notes due 2022, and to pay related fees and expenses.