Burger King parent to offer $1 billion in senior debt

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Restaurant Brands International Inc. said Wednesday that it would offer $1 billion in 4.00% second lien senior secured notes due 2030. The company will use the proceeds along with cash on hand to refinance debt. This latest senior debt will be in addition to $1.4 billion issued as of Oct. 5 and due in 2030. Restaurant Brands has $12.3 billion in long-term debt, according to its latest 10Q filing. Restaurant Brands’ lineup includes Burger King, Popeyes Louisiana Kitchen and Tim Horton’s. Restaurant Brands stock is down 7.4% for the year to date while the S&P 500 index is up 8.7% for the period.
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