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YUM! expects to close on new $1.25 billion revolver by Tuesday
By Sara Rosenberg
New York, June 24 - YUM! Brands Inc. expects to close on a new $1.25 billion three-year senior unsecured revolver, which will replace the company's existing revolver, before June 25, according to a filing with the Securities and Exchange Commission.
The loan is expected to mature on June 25, 2005 and will have an initial drawn cost of Libor plus 150 basis points. The interest rate can range from Libor plus 100 to 200 basis points depending on certain financial criteria, the filing said.
YUM!, formerly known as TRICON Global Restaurants, Inc., is a Louisville, Ky. quick service restaurant company
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