TORONTO, Oct. 14, 2020 /CNW/ - Restaurant Brands
International Inc. ("RBI") (TSX: QSR) (NYSE: QSR) (TSX: QSP),
1011778 B.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 have launched an offering of $1,000 million in aggregate principal amount of
4.00% Second Lien Senior Secured Notes due 2030 (the "Notes").
The Notes are being offered as additional notes under the
Indenture, dated as of October 5,
2020, pursuant to which the Issuers previously issued
$1,400 million in aggregate principal
amount of 4.000% Second Lien Senior Secured Notes due 2030.
RBI expects to use the proceeds from the offering of the Notes,
together with cash on hand, to redeem a portion of the outstanding
aggregate principal amount of the Issuers' 5.00% Second Lien
Secured Senior Notes due 2025 (the "2025 Second Lien Notes"),
plus any accrued and unpaid interest thereon and pay related
premium, fees and expenses. The Issuers expect to redeem
$1,000 million in aggregate principal
amount of 2025 Second Lien Notes. This press release does not
constitute a notice of redemption.
The Notes will be second 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.
The Notes will be marketed (i) to persons reasonably believed to
be qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"), and (ii)
outside the U.S. pursuant to Regulation S under the Securities Act.
The Notes and the related guarantees have not been and will not be
registered under 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 shall 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 approximately
$32 billion in annual system-wide
sales and 27,000 restaurants in more than 100 countries and U.S.
territories. RBI owns three of the world's most prominent and
iconic quick service restaurant brands - TIM HORTONS®, BURGER
KING®, and POPEYES®. These independently operated brands have been
serving their respective guests, franchisees and communities for
over 45 years.
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 regarding the issuance of the Senior Notes and
use of proceeds therefrom. 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, risks related to adverse economic and industry
conditions and risks related to unforeseen events, such as adverse
weather conditions, natural disasters, terrorist attacks or
threats, pandemics, including coronavirus (COVID-19), or other
catastrophic events, all of 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.
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SOURCE Restaurant Brands International Inc.