Burger King parent Restaurant Brands to issue C$1 billion in 10-year bonds

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Burger King parent Restaurant Brands International Inc. has launched an offering of C$1 billion ($795.5 million) in second lien senior secured notes that mature in 2030. Proceeds will be used to redeem a portion of the outstanding 4.00% second lien senior secured notes that mature in 2025. The company, which also owns Tim Hortons, joins the many companies issuing record levels of debt during the pandemic. Shares were slightly higher premarket, but have fallen 9% in the year to date, while the S&P 500 has gained 5%.
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