MIAMI — Burger King Holdings Inc. announced that it has retired $350 million in debt, following its initial public offering and listing on the New York Stock Exchange May 18.
"I am pleased to report that we have retired $350 million in debt," said John W. Chidsey, CEO of Burger King Corporation. "Reducing the debt level of our company by 25 percent allows us greater flexibility in financial markets as well as increased cash flow for future investment spending, which will, in turn, benefit our shareholders and investors in the long term."
Burger King operates more than 11,100 restaurants in all 50 states and in more than 65 countries and U.S. territories worldwide. Approximately 90 percent of Burger King restaurants are owned and operated by independent franchisees.
