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Restaurant Brands International Inc. Announces Pricing of First Lien Senior Secured Notes Offering
Restaurant Brands International Inc. Announces Pricing of First Lien Senior Secured Notes...
About this update from Restaurant Brands International Lp
[{"type":"text","content":"\n \n \n \n Restaurant Brands International Inc. Announces Pricing of First Lien Senior Secured Notes Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n June 15, 2021\n \n /CNW/ - Restaurant Brands International Inc. (\"RBI\") (TSX: QSR) (NYSE: QSR) (TSX: QSP),\n \n 1011778 B\n \n .C. Unlimited Liability Company (the \"Issuer\") and New Red Finance, Inc. (the \"Co-Issuer\" and, together with the Issuer, the \"Issuers\") announced today that the Issuers priced an offering of\n \n $800 million\n \n in aggregate principal amount of 3.875% First Lien Senior Secured Notes due 2028 (the \"Notes\"). The Notes will be  issued as additional notes under the Indenture, dated as of\n \n September 24, 2019\n \n , pursuant to which the Issuers previously issued\n \n $750 million\n \n in aggregate principal amount of 3.875% First Lien Senior Secured Notes due 2028. The Notes will have a maturity date of\n \n January 15, 2028\n \n . The closing of the offering of the Notes is expected to occur on or about\n \n July 6, 2021\n \n , subject to customary closing conditions.\n \n \n \n \n \n \n \n \n \n The Notes were priced at 100.250% of their face value. RBI expects to use the net proceeds from the offering of the Notes to redeem all of the Issuers' outstanding aggregate principal amount of 4.250% First Lien Senior Secured Notes due 2024 (the \"2024 Notes\"), plus any accrued and unpaid interest thereon, and pay related premium, fees and expenses. The Issuers expect to redeem\n \n $775 million\n \n in aggregate principal amount of 2024 Notes. This press release does not constitute a notice of redemption with respect to the 2024 Notes.\n \n \n The Notes will be first lien senior secured obligations of the Issuers, guaranteed on a senior secured basis by each of RBI's subsidiaries that guarantee the Issuers' obligations under the Issuers' existing senior secured credit facilities.\n \n \n The Notes were offered (i) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under t...