09:12 AM EDT, 09/03/2025 (MT Newswires) -- Yum! Brands ( YUM ) said Wednesday it plans to refinance its series 2016-1 class A-2-III fixed rate senior secured notes with a new series of notes under its current securitization financing facility.

The notes had a balance of $938 million as of June 30, with the refinancing expected to be comprised of $1 billion of senior term notes, the fast food company said.

The company said it plans to use the net proceeds to repay the series 2016-1 class A-2-III notes, as well as for general corporate purposes.