QSR Enters Material Agreement, New Financial Obligation

TL;DR

**QSR just took on new debt or a major financial obligation, details pending.**

AI Summary

Restaurant Brands International Inc. (QSR) filed an 8-K on January 4, 2024, reporting an "Entry into a Material Definitive Agreement" and the "Creation of a Direct Financial Obligation" as of December 28, 2023. This filing indicates that QSR, along with Restaurant Brands International Limited Partnership, has entered into a significant new financial commitment. For investors, this means the company has taken on new debt or a similar obligation, which could impact its financial leverage and future earnings, making it crucial to understand the specifics of this agreement once they are disclosed.

Why It Matters

This filing signals a new financial commitment for Restaurant Brands International, which could affect its balance sheet, cash flow, and ultimately, shareholder value.

Risk Assessment

Risk Level: medium — The filing indicates a new financial obligation without disclosing the specific terms or amount, creating uncertainty about its potential impact on the company's financial health.

Analyst Insight

A smart investor would monitor subsequent filings from Restaurant Brands International Inc. for specific details on the material definitive agreement and financial obligation to assess its impact on the company's financial health and future prospects.

Key Players & Entities

• Restaurant Brands International Inc. (company) — the registrant filing the 8-K
• Restaurant Brands International Limited Partnership (company) — co-registrant in the 8-K filing
• December 28, 2023 (date) — date of the earliest event reported
• January 4, 2024 (date) — date the 8-K was filed
• QSR (company) — trading symbol for Common Shares
• QSP (company) — trading symbol for Class B exchangeable limited partnership units

Forward-Looking Statements

• Further details regarding the nature and terms of the 'Material Definitive Agreement' and 'Direct Financial Obligation' will be disclosed in a subsequent filing or earnings report. (Restaurant Brands International Inc.) — high confidence, target: Q1 2024

FAQ

From the Filing

0001618756-24-000002.txt : 20240104 0001618756-24-000002.hdr.sgml : 20240104 20240104170856 ACCESSION NUMBER: 0001618756-24-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20231228 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240104 DATE AS OF CHANGE: 20240104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Restaurant Brands International Inc. CENTRAL INDEX KEY: 0001618756 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 000000000 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36786 FILM NUMBER: 24513154 BUSINESS ADDRESS: STREET 1: 130 KING STREET WEST STREET 2: SUITE 300 CITY: TORONTO STATE: A6 ZIP: M5X 1E1 BUSINESS PHONE: (905) 845-6511 MAIL ADDRESS: STREET 1: 130 KING STREET WEST STREET 2: SUITE 300 CITY: TORONTO STATE: A6 ZIP: M5X 1E1 FORMER COMPANY: FORMER CONFORMED NAME: 9060669 Canada Inc. DATE OF NAME CHANGE: 20141028 FORMER COMPANY: FORMER CONFORMED NAME: 1011773 B.C. Unlimited Liability Co DATE OF NAME CHANGE: 20140905 8-K 1 qsr-20231228.htm 8-K qsr-20231228 0001618756 0001618755 false 0001618756 2023-12-28 2023-12-28 0001618756 qsr:RestaurantBrandsInternationalLimitedPartnershipMember 2023-12-28 2023-12-28 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 28, 2023   RESTAURANT BRANDS INTERNATIONAL INC. RESTAURANT BRANDS INTERNATIONAL LIMITED PARTNERSHIP (Exact name of registrant as specified in its charter) Canada 001-36786 98-1202754 Ontario   001-36787 98-1206431 (State or other jurisdiction of   (Commission (I.R.S. Employer incorporation)   File Number) Identification No.) 130 King Street West, Suite 300   M5X 1E1 Toronto, Ontario (Address of Principal Executive Offices)   (Zip Code) ( 905 ) 339-6011 (Registrant’s telephone number, including area code) N/A (Former name or former address, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbols Name of each exchange on which registered Common Shares, without par value   QSR New York Stock Exchange   Toronto Stock Exchange Securities registered pursuant to Section 12(g) of the Act: Title of each class   Trading Symbols Name of each exchange on which registered Class B exchangeable limited partnership units QSP Toronto Stock Exchange Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pr