04:47 AM EDT, 06/07/2024 (MT Newswires) -- Restaurant Brands International (QSR) said late Thursday that together with its co-issuers, it has priced an offering of $1.2 billion principal amount of 6.125% first lien senior secured notes due 2029.

Net proceeds will be used to fund repayments of debt under the company's term loan B facility, related fees and expenses, and for general corporate purposes, the company said.

The offering, which has been increased by $200 million, is expected to close on or about June 17, subject to customary closing conditions.

The company also said it repriced and downsized its term loan B facility to $4.75 billion at an adjusted term secured overnight financing rate plus 1.75% from the previous $5.91 billion at an adjusted term secured overnight financing rate plus 2.25%.

Price: 71.01, Change: -0.06, Percent Change: -0.08