YUM BRANDS INC (YUM): debt financing — YUM! Brands refinances existing $713M term loan & $1.25B revolver with $500M term A & $1.5B revolver due 2029

YUM BRANDS INC

New $500M Term A Loan and $1.5B revolving credit facility mature April 26, 2029.
Existing ~$713M term loan A and $1.25B revolving facility fully refinanced with new facilities.
Interest rate spreads unchanged: 0.75%-1.50% for Adjusted Term SOFR; 0.00%-0.50% for base rate.
Excess cash flow mandatory prepayment and most-favored-nation provisions removed from Term A Loan.
Swing line sublimit increased; all other material terms of Credit Agreement remain unchanged.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

YUM BRANDS INC amended credit facility of $500 million term loan A and a $1.5 billion revolving credit facility with JPMorgan Chase Bank, N.A., as Collateral Agent, Swing Line Lender, an L/C Issuer and Administrative Agent at Adjusted Term SOFR or the base rate, as determined by the Borrowers, plus a spre maturing April 26, 2029.

Instrument: credit facility
Principal: $500 million term loan A and a $1.5 billion revolving credit facility
Counterparty: JPMorgan Chase Bank, N.A., as Collateral Agent, Swing Line Lender, an L/C Issuer and Administrative Agent
Rate: Adjusted Term SOFR or the base rate, as determined by the Borrowers, plus a spre
Maturity: April 26, 2029
Event: amendment

Exact text from the filing

thereto, pursuant to which the Company refinanced its existing approximately $713 million term loan A facility and $1.25 billion revolving facility through the issuance of a $500 million term loan A (the “Term A Loan”) and a $1.5 billion revolving credit facility (the “Revolving Facility”). The Term A Loan and the Revolving Facility will mature on the earliest of

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

YUM BRANDS INC amended Refinancing Amendment No. 7 with JPMorgan Chase Bank, N.A., as Collateral Agent, Swing Line Lender, an L/C Issuer and Administrative Agent, and the Lenders (effective 2024-04-26).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as Collateral Agent, Swing Line Lender, an L/C Issuer and Administrative Agent, and the Lenders
Effective: 2024-04-26

Exact text from the filing

On April 26, 2024, Pizza Hut Holdings, LLC, KFC Holding Co. and Taco Bell of America, LLC (collectively, the “Borrowers”), each a wholly owned subsidiary of YUM! Brands, Inc. (“YUM” or the “Company”), entered into a Refinancing Amendment No. 7 (the “Amendment”) to the Credit Agreement, dated as of June 16, 2016

View on SEC.gov

316 debt financings filed in the last 30 days. Browse all debt financings →

YUM BRANDS INC filing history →

Source: SEC EDGAR

accession 0001104659-24-053083

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.