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JPMorgan Agents $1.75B Facility for Restaurant Brands

September 17, 2019

Restaurant Brands closed a new term loan facility in an aggregate principal amount of $750 million and amended its existing revolving credit facility to provide for up to $1 billion of revolving extension of credit outstanding at any time.

The amended facility includes a $125 million letter of credit sublimit and extends the maturity date to 2024. The proceeds from the offering of the 2019 senior notes and from the new term loan facility, together with cash on hand, are expected to be used to redeem all of the issuers’ outstanding $1,250 million aggregate principal amount of 4.625% first lien senior secured notes due 2022 and to pay related fees and expenses.

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