Restaurant Brands International (TSE:QSR) has released an update.
Restaurant Brands International Inc. has upsized its offering to $1.2 billion of 6.125% Senior Secured Notes due 2029, aiming to refinance a part of its existing debt with the anticipated closing date around June 17, 2024. The company plans to reallocate the proceeds for refinancing their Term Loan B Facility, resulting in expected annualized net interest savings and maintaining its net leverage position. The restructuring of its Term Loan B Facility will lower the interest rate margin by 0.5% and reduce the principal by over $1 billion.
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