---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-053083"
form_type: "8-K"
ticker: "YUM"
cik: "0001041061"
company_name: "YUM BRANDS INC"
filed_at: "2024-04-26T23:59:59+00:00"
generated_at: "2026-06-03T06:10:02.332473+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# YUM! Brands refinances existing $713M term loan & $1.25B revolver with $500M term A & $1.5B revolver due 2029

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-053083
- form_type: 8-K
- ticker: YUM
- cik: 0001041061
- company_name: YUM BRANDS INC
- filed_at: 2024-04-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1041061/000110465924053083/0001104659-24-053083-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1041061/000110465924053083/tm2412499d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-053083
- JSON: https://secwatch.observer/filing/0001104659-24-053083.json
- Plain text: https://secwatch.observer/filing/0001104659-24-053083.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1041061/000110465924053083/0001104659-24-053083-index.htm
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1041061/000110465924053083/0001104659-24-053083-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.