TORONTO, Sept. 12,
2023 /PRNewswire/ - 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.
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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.