Restaurant Brands launches $4.57 billion term B at Libor plus 175 bps

By Sara Rosenberg

New York, Nov. 7 – Restaurant Brands International Inc. held a lender call on Thursday to launch a $4.57 billion term loan B with price talk of Libor plus 175 basis points with an original issue discount of 99.5 to 99.75, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Commitments are due on Nov. 14, the source added.

Proceeds will be used to refinance existing debt.

Restaurant Brands is an Oakville, Ont.-based quick service restaurant company.

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