---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-086708"
form_type: "8-K"
ticker: "YUM"
cik: "0001041061"
company_name: "YUM BRANDS INC"
filed_at: "2025-09-03T23:59:59+00:00"
generated_at: "2026-05-17T08:25:53.838861+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Yum! Brands to refinance $938M Series 2016-1 notes with $1.0B new securitization notes

## Summary
- Series 2016-1 Class A-2-III Notes had approx $938M balance as of June 30, 2025.
- New $1.0B notes will repay the 2016-1 notes, pay expenses, and fund general corporate purposes.
- Other series (2018-1, 2021-1 Class A-2-I/II/III) totaling $2.806B remain outstanding.
- No assurance on timing, rate, or completion; offering under Rule 144A/Reg S only.
- Securitization facility backed by Taco Bell U.S. franchise royalties.

## SEC filing metadata
- accession: 0001104659-25-086708
- form_type: 8-K
- ticker: YUM
- cik: 0001041061
- company_name: YUM BRANDS INC
- filed_at: 2025-09-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1041061/000110465925086708/0001104659-25-086708-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1041061/000110465925086708/tm2525045d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-086708
- JSON: https://secwatch.observer/filing/0001104659-25-086708.json
- Plain text: https://secwatch.observer/filing/0001104659-25-086708.txt

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