| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers N > Headlines for New Red Finance Inc. > News item |
Restaurant Brands driving by with $800 million tap of 3 7/8% notes due 2028; talk in par area
By Paul A. Harris
Portland, Ore., June 15 – Restaurant Brands International, Inc. plans to price an $800 million add-on to the 1011778 B.C. Unlimited Liability Co. and New Red Finance, Inc. 3 7/8% first-lien senior secured notes due Jan. 15, 2028 (existing ratings Ba2/BB) in a Tuesday drive-by, according to market sources.
Initial guidance is in the par area.
JPMorgan is leading the Rule 144A and Regulation S deal.
The notes feature a make-whole call until Sept. 15, 2022 at Treasuries plus 50 basis points, then become callable at 101.938.
The Toronto-based fast food holding company plans to use the proceeds to redeem its $775 million of 4¼% first-lien senior secured notes due 2024.
The original $750 million issue of 3 7/8% notes due 2028 priced in September 2019.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.