06:22 AM EDT, 09/04/2024 (MT Newswires) -- Restaurant Brands International (QSR.TO, QSR) and issuers overnight Tuesday priced an offering of $500 million in aggregate principal amount of 5.625% First Lien Senior Secured Notes due 2029. A statement noted the closing of the offering of the Notes is expected to occur on or about September 13, 2024, subject to customary closing conditions.

RBI said it expects to use proceeds from the offering of the Notes, together with cash on hand, to redeem in full the Issuers' outstanding 5.750% First Lien Senior Secured Notes due 2025 and pay related fees and expenses. The Issuers expect to redeem $500 million in aggregate principal amount of 2025 Notes. The combined effect of the offer of Notes and the redemption of 2025 Notes will be neutral to net leverage and accretive to interest expense.