Restaurant Brands International Inc. Launches Secure Notes Offering
Restaurant Brands International Inc. Launches Senior Secured Notes Offering
Restaurant Brands International Inc. (RBI) (TSX: QSR) (NYSE: QSR) is excited to announce the launch of an offering of First Lien Senior Secured Notes, aiming to raise $500 million in total principal. This strategic move is set to bolster RBI's financial positioning and operational capabilities.
Details About the Notes Offering
The offering includes securities set to mature in 2029. RBI plans to direct the proceeds from this offering, in conjunction with existing cash, to fully redeem outstanding 5.750% First Lien Senior Secured Notes due 2025. A significant liquidity strategy is in place, targeting $500 million for the redemption of these notes, which reflects RBI's commitment to maintaining a strong capital structure.
Uses of Proceeds
The proceeds will primarily be utilized for settling the current obligations while streamlining the overall financial obligations of the Issuers who are involved in this transaction.
First Lien Senior Secured Obligations
The First Lien Senior Secured Notes will be primarily guaranteed by Restaurant Brands International Limited Partnership, collectively with the subsidiaries that guarantee the obligations of the Issuers under existing senior secured credit facilities, ensuring a high level of security for these financial instruments.
Investment Opportunities
This offering is available to qualified institutional buyers as defined under Rule 144A of the Securities Act of 1933, as amended, and for international offerings outside the U.S. under Regulation S. The Issuers will not register the Notes under the Securities Act, meaning these notes will not be available for purchase within the U.S. without appropriate exemptions.
Target Investors
RBI aims this offering at sophisticated investors who can recognize the potential and risks associated with investing in senior secured notes.
Legal Considerations
It is essential to note that this announcement does not serve as an offer to sell or solicit any offer to buy the securities in any jurisdiction where such offers are not lawful prior to a proper registration or qualification under the corresponding securities laws.
About Restaurant Brands International
Restaurant Brands International Inc. stands as a global leader in the quick service restaurant industry, boasting over $40 billion in system-wide sales annually, and operating over 30,000 restaurants across more than 120 countries. The company operates notable brands such as TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®, each serving diverse community segments worldwide.
Commitment to Sustainable Practices
Through its initiative, Restaurant Brands for Good, RBI is dedicated to enhancing sustainable practices that positively impact food systems, their surrounding environments, and the communities they serve. This commitment reflects their broader vision of responsible corporate stewardship.
Looking Ahead
RBI's future growth strategies will continue to focus on enhancing its brand presence and effectively managing its restaurant operations, directly benefiting stakeholders and investors alike.
Frequently Asked Questions
What are the senior secured notes being offered by RBI?
The senior secured notes offered by RBI are First Lien Senior Secured Notes due in 2029, aiming to raise $500 million.
How will the proceeds from the notes offering be used?
The proceeds will be used to fully redeem existing 2025 Notes and cover associated fees and expenses, enhancing RBI's financial flexibility.
Who is eligible to invest in these notes?
The offering is available to persons classified as qualified institutional buyers under Rule 144A and international investors under Regulation S.
What is unique about the offering?
These Notes represent first lien senior secured obligations, providing an added layer of security to investors while being backed by various guarantees from RBI and its subsidiaries.
How does RBI ensure transparency regarding this transaction?
RBI has outlined that the offering will comply with all necessary regulations and will communicate all relevant information to maintain transparency for potential investors.
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