Restaurant Brands to redeem all $775 million 4¼% notes due 2024

By Rebecca Melvin

Concord, N.H., June 15 – Restaurant Brands International, Inc. plan to redeem all $775 million outstanding principal amount of 4¼% first-lien senior secured notes due 2024, according to a company news release.

Restaurant Brands, 1011778 B.C. Unlimited Liability Co. and New Red Finance Inc. are issuers of the notes.

The redemption plus any accrued and unpaid interest, fees and expenses are to be funded with proceeds of an $800 million add-on to the issuer’s 3 7/8% first-lien senior secured note due 2028. They previously issued $750 million of the 2028 notes on Sept. 24, 2019.

The fast-food holding company is based in Toronto.

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