Reported Earlier, Restaurant Brands International Prices $1.2B Senior Secured Notes To Refinance Debt
Portfolio Pulse from Benzinga Newsdesk
Restaurant Brands International (RBI) has priced $1.2 billion in senior secured notes at 6.125% due 2029 to refinance part of its existing Term Loan B facility. Additionally, RBI will reprice its existing Term Loan B facility due September 2030 from SOFR plus 2.25% to SOFR plus 1.75%. These transactions are expected to be net leverage neutral and result in annualized net interest savings.
June 07, 2024 | 6:59 am
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Restaurant Brands International (QSR) has issued $1.2 billion in senior secured notes to refinance part of its debt and reprice its Term Loan B facility, which is expected to result in annualized net interest savings.
The issuance of $1.2 billion in senior secured notes and the repricing of the Term Loan B facility are expected to result in net interest savings for RBI. This financial maneuver is likely to improve the company's financial health, making it a positive development for investors.
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