RBI Files 8-K for Material Definitive Agreement

Ticker: QSR · Form: 8-K · Filed: Jun 17, 2024 · CIK: 1618756

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation, corporate-filing

Related Tickers: RBI

TL;DR

RBI just filed an 8-K for a big financial deal. Keep an eye on this.

AI Summary

Restaurant Brands International Inc. (RBI) entered into a material definitive agreement on June 17, 2024, related to a direct financial obligation. The filing also includes financial statements and exhibits, with the company's fiscal year ending on December 31st. RBI was formerly known as 9060669 Canada Inc. and 1011773 B.C. Unlimited Liability Co.

Why It Matters

This filing indicates a significant financial commitment or obligation for Restaurant Brands International, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements and financial obligations can introduce new risks or alter existing ones for a company.

Key Players & Entities

FAQ

What is the nature of the material definitive agreement entered into by Restaurant Brands International Inc. on June 17, 2024?

The filing indicates the entry into a material definitive agreement and a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not provided in this summary.

What are the former names of Restaurant Brands International Inc. mentioned in the filing?

The filing states that the company was formerly known as 9060669 Canada Inc. and 1011773 B.C. Unlimited Liability Co.

When is Restaurant Brands International Inc.'s fiscal year end?

The fiscal year end for Restaurant Brands International Inc. is December 31st.

What is the SEC file number for Restaurant Brands International Inc.'s 8-K filing?

The SEC file number for this 8-K filing is 001-36786.

What are the primary items reported in this 8-K filing?

This 8-K filing reports on the entry into a material definitive agreement, the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, and includes financial statements and exhibits.

Filing Stats: 2,355 words · 9 min read · ~8 pages · Grade level 13.6 · Accepted 2024-06-17 16:34:11

Key Financial Figures

Filing Documents

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Indenture Overview On June 17, 2024, 1011778 B.C. Unlimited Liability Company, an unlimited liability company organized under the laws of British Columbia (the "Issuer"), and New Red Finance, Inc., a Delaware corporation and a direct wholly owned subsidiary of the Issuer (the "Co-Issuer" and, together with the Issuer, the "Issuers"), each a subsidiary of Restaurant Brands International Inc., a corporation organized under the laws of Canada (the "Company"), entered into an indenture (the "Indenture"), by and among the Issuers, the guarantors party thereto (the "Guarantors") and Wilmington Trust, National Association, as trustee and collateral agent, in connection with the issuance and sale by the Issuers to Morgan Stanley & Co. LLC and certain other initial purchasers of $1,200 million aggregate principal amount of 6.125% First Lien Senior Secured Notes due 2029 (the "Notes"). The Issuers expect to use the net proceeds from the issuance of the Notes to refinance a portion of the Issuers' existing Term Loan B Facility (as defined herein), pay related fees and expenses and for general corporate purposes. Interest; Ranking; Guarantees; Security The Notes will mature on June 15, 2029 and bear interest at a rate of 6.125% per annum, payable semi-annually in cash in arrears on June 15 and December 15 of each year, beginning on December 15, 2024. The Notes are first lien senior secured obligations and are (i) equal in right of payment with all of the Issuers' existing and future senior debt, including borrowings under the Issuers' senior secured first lien term loan A facility (the "Term Loan A Facility") and senior secured first lien term loan B facility (the "Term Loan B Facility" and, together with the Term Loan A Facility, the "Term Loan Facilities"), the revolving credit facility (the "Revolving Credit Facility" and, together with the Term Loan Facilities, the "Senior Secured Credit Facilities") and the o

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 4.20 Indenture, dated as of June 17, 2024, by and among 1011778 B.C. Unlimited Liability Company, as issuer, New Red Finance, Inc., as co-issuer, the guarantors from time to time party thereto and Wilmington Trust, National Association, as trustee and collateral agent. 4.20(a) Form of 6.125% First Lien Senior Secured Notes due 2029 (included as Exhibit A to Exhibit 4.20). 10.10(p) Amendment No. 10, dated as of June 17, 2024, to the Credit Agreement, dated October 27, 2014 (as amended), by and among 1011778 B.C. Unlimited Liability Company, as parent borrower, New Red Finance, Inc., as subsidiary borrower, Restaurant Brands International Limited Partnership, the other guarantors party thereto, JPMorgan Chase Bank, N.A., as administrative agent, collateral agent and swing line lender, and the other lenders party thereto. 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. RESTAURANT BRANDS INTERNATIONAL INC. RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP, by its general partner RESTAURANT BRANDS INTERNATIONAL INC. Date: June 17, 2024 /s/ Jill Granat Name: Jill Granat Title: General Counsel and Corporate Secretary

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