OAKVILLE, ON, May 22, 2015 /PRNewswire/ - Restaurant
Brands International Inc. (TSX/NYSE: QSR, TSX: QSP) ("RBI") and
1011778 B.C. Unlimited Liability Company and New Red Finance, Inc.
(the "Issuers") announced today that the Issuers have closed their
previously announced private offering of $1,250 million in aggregate principal amount of
4.625% First Lien Senior Secured Notes (the "Notes"). The Notes
were offered at an original issue price of 100.00% and will mature
on January 15, 2022. The Notes are
first lien senior secured obligations and will rank pari passu in
right of payment with all of the Issuers' existing and future
senior indebtedness, including the Issuers' first lien term loan
facility (the "First Lien Term Loan Facility"). The Notes will be
guaranteed on a senior secured basis by certain of their existing
and future direct and indirect wholly owned restricted subsidiaries
organized in the U.S. and Canada.
The net proceeds from the offering of the Notes, together with
cash on hand, were used to repay approximately $1,550 million of the amount outstanding under
the First Lien Term Loan Facility.
The Issuers also announced today the closing of the refinancing
of their First Lien Term Loan Facility resulting in an interest
rate reduction to LIBOR + 2.75% with a 1.00% LIBOR floor. The
facility has a maturity date of December 12,
2021.
The Notes and the related guarantees have not been registered
under the Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the U.S. absent
registration or an applicable exemption from the registration
requirements under the Securities Act and applicable state
securities laws.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Restaurant Brands International
Restaurant Brands International Inc. is one of the world's
largest quick service restaurant companies with over $23 billion in system-wide sales and over 19,000
restaurants in approximately 100 countries and U.S. territories.
RBI owns two of the world's most prominent and iconic quick service
restaurant brands – TIM
HORTONS® and BURGER KING®. These
independently operated brands have been serving their respective
guests, franchisees and communities for over 50 years. To learn
more about RBI, please visit the company's website at
www.rbi.com.
Forward-Looking Statements
This press release includes forward-looking statements, which
are often identified by the words "may," "might," "believes,"
"thinks," "anticipates," "plans," "expects," "intends" or similar
expressions and reflect management's expectations regarding future
events and operating performance and speak only as of the date
hereof. These forward-looking statements include statements about
RBI's expectations and belief regarding its existing First Lien
Term Loan Facility and Notes. The factors that could cause actual
results to differ materially from RBI's expectations are detailed
in filings of RBI with the U.S. Securities and Exchange Commission
and on SEDAR in Canada, such as
its annual and quarterly reports and current reports on Form 8-K,
and include the following: risks related to RBI's substantial
indebtedness, which could adversely affect its financial condition
and prevent it from fulfilling its obligations. RBI undertakes no
obligation to update forward-looking statements to reflect events
or circumstances after the date hereof.
SOURCE Restaurant Brands International