News

Restaurant Brands International to refinance, reduce debt

The company expects to use the net proceeds from the offering of the Notes along with cash on hand to repay approximately $1,550 million of the Issuers' outstanding First Lien Term Loan facility.

May 11, 2015

After reporting favorable Q1 results for 2015, Restaurant Brands International Inc., parent company of Burger King and Tim Hortons, announced that its Issuers intend to offer $1,250 million in aggregate principal amount of First Lien Senior Secured Notes due 2022 and refinance the existing First Lien Term Loan facility.

The company expects to use the net proceeds from the offering of the Notes along with cash on hand to repay approximately $1,550 million of the Issuers' outstanding First Lien Term Loan facility. The Issuers also plan to refinance the existing interest rate on the First Lien Term Loan Facility today, offering Notes by Wednesday, May 13, 2015.