Restaurant Brands issues $500M 5.625% notes due 2029 to redeem $500M 5.75% notes due 2025

Restaurant Brands International Inc.

Issued $500M first lien senior secured notes at 5.625%, maturing Sept 15, 2029.
Proceeds plus cash on hand to redeem all outstanding $500M 5.750% notes due 2025.
Notes are first lien senior secured, jointly guaranteed by parent and restricted subsidiaries.
Optional redemption: make-whole before Sept 2026, then at specified prices; up to 40% with equity proceeds.
Change of control triggers 101% repurchase offer.

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