TORONTO, Sept. 12,
2023 /CNW/ - Restaurant Brands International
Inc. ("RBI") (TSX: QSR) (NYSE: QSR), 1011778
B.C. Unlimited Liability Company (the "Borrower") and New
Red Finance, Inc. (the "Co-Borrower" and, together with the
Borrower, the "Borrowers") announced today that the Borrowers
intend to enter into an amendment to their existing senior secured
credit facilities pursuant to which they expect to, among other
things, (i) extend the maturity of the existing $1,234 million aggregate principal amount of Term
Loan A credit facility to September
2028, (ii) extend the maturity of the existing $5,163 million aggregate principal amount of Term
Loan B credit facility to September
2030 at an expected spread over SOFR of 225 basis points and
(iii) amend the existing Revolving Credit Facility to increase the
availability from $1,000 million to
$1,250 million of revolving extension
of credit outstanding at any time and extend the maturity of the
facility to September 2028; and to
make other changes in connection therewith. The agreement is
expected to close in the coming weeks subject to satisfaction of
customary closing conditions.
About Restaurant Brands International
Restaurant Brands International Inc. is one of the world's
largest quick service restaurant companies with over $40 billion in annual system-wide sales and over
30,000 restaurants in more than 100 countries. RBI owns four of the
world's most prominent and iconic quick service restaurant brands -
TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®. These
independently operated brands have been serving their respective
guests, franchisees and communities for decades. Through its
Restaurant Brands for Good framework, RBI is improving sustainable
outcomes related to its food, the planet, and people and
communities.
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 potential amendments to the credit
facilities. 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), the war in Ukraine or other catastrophic events, all of
which could adversely affect its financial condition and prevent it
from fulfilling its obligations. Other than as required
under U.S. federal securities laws or Canadian securities laws, 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.