Restaurant Brands International Inc. reports news around its global quick service restaurant franchising business and the performance of Tim Hortons, Burger King, Popeyes and Firehouse Subs. Company updates commonly cover system-wide sales, comparable sales, net restaurant growth, international development, segment results and operational initiatives across its brand portfolio.
Recurring announcements also address capital allocation, including dividends and share repurchases, investor-day targets, balance-sheet priorities, brand-market transactions such as Burger King China, and shareholder communications involving tender offers or other corporate actions.
Restaurant Brands International Inc. (QSR) has launched a $500 million offering of First Lien Senior Secured Notes due 2029. The funds will be used to redeem $485 million of outstanding 4.25% First Lien Senior Secured Notes due 2024. The Notes will be secured obligations guaranteed by RBI's subsidiaries. The offering will target qualified institutional buyers and will not be registered under the Securities Act. RBI, one of the largest quick-service restaurant companies globally, operates brands like Tim Hortons, Burger King, and Popeyes, boasting around $32 billion in annual system-wide sales.
Restaurant Brands International will release its Q3 2020 financial results on October 27, 2020, at 8:30 a.m. Eastern Time. An investor conference call will follow, available via webcast and through dial-in numbers for U.S., Canadian, and international callers. The company, with approximately $32 billion in annual sales and 27,000 restaurants across over 100 countries, owns brands like TIM HORTONS, BURGER KING, and POPEYES.
On October 14, 2020, Restaurant Brands International (QSR) priced an offering of $1,500 million in 4.000% Second Lien Senior Secured Notes due 2030, increasing the total offering size by $500 million. The closing is expected around November 2, 2020. Proceeds will be used to redeem all of the Issuers' 5.00% Second Lien Senior Secured Notes due 2025 and cover related expenses. This offering will enhance the company's capital structure, although the Notes are subject to certain regulatory restrictions.
Restaurant Brands International Inc. (QSR) has launched an offering of $1,000 million in 4.00% Second Lien Senior Secured Notes due 2030. This offering supplements a prior issuance of $1,400 million of the same notes. Proceeds will be used to redeem $1,000 million of outstanding 5.00% Second Lien Secured Senior Notes due 2025. The new notes will be offered to qualified institutional buyers and will be secured by the company's subsidiaries. RBI generates approximately $32 billion in annual sales across 27,000 restaurants worldwide.
Restaurant Brands International Inc. (QSR) released preliminary third quarter 2020 financial results, showing a 5.4% decline in consolidated system-wide sales. Comparable sales for Tim Hortons in Canada decreased 13.7%, while 3.2% drop was noted for Burger King in the U.S. However, Popeyes recorded impressive growth, with a 19.7% increase in U.S. sales. RBI's expected revenue is between $1,320 million and $1,340 million, with adjusted EBITDA projected between $555 million and $565 million. Despite challenges, 96% of global restaurants remained operational at the end of September.
The Board of Directors of Restaurant Brands International (QSR) announced the appointment of Jason Melbourne as an independent director. Currently a Managing Director at Canaccord Genuity, Melbourne brings extensive capital market experience from previous roles at Genuity Capital Markets and CIBC World Markets. His addition is expected to enhance strategic decision-making, benefiting brands like Tim Hortons, Burger King, and Popeyes. The company reported approximately $32 billion in annual system-wide sales across over 27,000 restaurants globally.
Restaurant Brands International Inc. (QSR) announced the pricing of a $1,400 million offering of 4.000% Second Lien Senior Secured Notes due 2030, which is a $400 million increase from previous plans. The offering's closing is expected around October 5, 2020. Funds will be used to redeem $1.35 billion of 5.00% Second Lien Senior Secured Notes due 2025. These Notes will be secured by RBI's subsidiaries and were offered to qualified institutional buyers under Rule 144A and Regulation S.
On September 16, 2020, Restaurant Brands International (RBI) announced a $1 billion offering of Second Lien Senior Secured Notes due 2030. The proceeds will be used to redeem a portion of the existing 5% Second Lien Senior Secured Notes due 2025, along with accrued interest, premiums, and fees. The Notes will be guaranteed by RBI's subsidiaries and marketed to qualified institutional buyers under U.S. regulations. RBI is one of the largest quick-service restaurant companies globally, with over $32 billion in annual sales and iconic brands like TIM HORTONS®, BURGER KING®, and POPEYES®.
Restaurant Brands International Inc. (QSR) announced it received an exchange notice from 3G Restaurant Brands Holdings LP to exchange 6,757,692 Class B exchangeable units for cash. The cash repurchase is planned to be financed with available funds, reducing fully diluted shares by the same amount. Following the exchange on October 2, 2020, RBH will hold about 31% of RBI's diluted shares. RBH waived its right to revoke the exchange notice by the September 25, 2020 deadline. RBI operates major brands like Tim Hortons, Burger King, and Popeyes, generating approximately $32 billion in annual sales.
Restaurant Brands International (TSX: QSR, NYSE: QSR) announced its participation in the Scotiabank Back to School Conference on September 15, 2020, at 10:55 am Eastern Time. The event will be held virtually, with a live audio webcast available on the company's investor relations website. A recording of the webcast will be accessible for 30 days post-event. RBI is a leading quick-service restaurant company, generating approximately $32 billion in annual sales across over 27,000 restaurants worldwide.