Restaurant Brands International Inc. Announces Notes Offering Details
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Restaurant Brands International Inc. Announces Notes Offering Details
Restaurant Brands International Inc. ("RBI") (TSX: QSR) (NYSE: QSR) has announced the pricing of an offering of $500 million in aggregate principal amount of 5.625% First Lien Senior Secured Notes due in 2029. This offering is a significant step as the company seeks to optimize its debt portfolio.
Use of Proceeds
The proceeds from this offering will be utilized to fully redeem the Issuers' outstanding 5.750% First Lien Senior Secured Notes that mature in 2025. RBI plans to utilize both the offering proceeds and available cash to manage its debt more efficiently, ensuring that the transition is neutral to net leverage while enhancing interest expense dynamics.
Structure of the Notes
The Notes will represent first lien senior secured obligations of the Issuers, which includes guarantees provided by Restaurant Brands International Limited Partnership and its wholly-owned subsidiaries. Such backing provides stability and confidence in the offering.
Regulatory Considerations
This offering is positioned for qualified institutional buyers and will be executed in accordance with the Securities Act regulations. It highlights RBI's commitment to compliance as it manages its financial instruments and responsibilities in the capital markets.
About Restaurant Brands International
RBI stands as one of the preeminent fast-food conglomerates globally, amassing more than $40 billion in annual system-wide sales. The company operates over 30,000 restaurants across more than 120 countries, housing iconic brands such as TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®. These brands are renowned for their commitment to their franchisees, customers, and the communities they serve, maintaining a legacy of quality and service.
Commitment to Sustainability
Through the Restaurant Brands for Good framework, RBI aspires to improve sustainability efforts related to food sourcing and environmental practices, thereby enhancing outcomes for both the planet and the community. This strategic vision aligns with consumer expectations and global sustainability trends.
Looking Ahead
With this recent notes offering, Restaurant Brands International Inc. continues to fortify its financial position and commit to long-term growth strategies. As the company navigates an evolving market landscape, it remains focused on expansion, both domestically and internationally, exploring avenues for new restaurant growth and the revitalization of existing locations.
Frequently Asked Questions
What is the purpose of the $500 million notes offering?
The offering aims to redeem outstanding senior secured notes and optimize RBI's financial structure.
Who can invest in these Notes?
The Notes are available to qualified institutional buyers in accordance with specific regulations set forth in the Securities Act.
What brands does Restaurant Brands International own?
RBI owns several well-known brands, including TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®.
How does RBI ensure compliance in its offerings?
RBI adheres to the Securities Act's regulations, ensuring that its financing strategies are in full legal compliance.
What is the long-term strategy for RBI?
RBI aims to strengthen its financial health and expand its footprint, focusing on sustainability and customer satisfaction.
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