RBI prices $1.2B 6.125% notes due 2029, reprices term loan to SOFR+1.75%

Restaurant Brands International Inc.

Issued $1.2B in 6.125% senior secured notes due 2029, upsized from $1B launch.
Net proceeds used to refinance portion of existing term loan B facility, pay fees, and general corporate purposes.
Term loan B facility repriced from SOFR+2.25% to SOFR+1.75%, downsized from $5.912B to $4.75B.
Transactions expected to be net leverage neutral and generate annualized net interest savings.
Closing expected June 17, 2024, subject to customary conditions.

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