BRANDS INTERNATIONAL RESTAURANT INC. : Entering into a material definitive agreement, creating a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant, financial statements and exhibits (Form 8-K)

Article 1.01. The conclusion of an important definitive agreement.

Supplementary Act

Overview

On July 6, 2021, 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 a
fourth supplemental indenture (the "Fourth Supplemental Indenture") to that
certain indenture, dated as of September 24, 2019 (the "Base Indenture"), as
supplemented by the first supplemental indenture, dated as of November 5, 2019,
the second supplemental indenture, dated as of December 23, 2019 and the third
supplemental indenture, dated as of August 24, 2020 (collectively with the Base
Indenture and the Fourth Supplemental Indenture, the "Indenture"), each 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 J.P. Morgan Securities
LLC and certain other initial purchasers of $800 million aggregate principal
amount of 3.875% First Lien Senior Secured Notes due 2028 (the "Additional
Notes"). The Additional Notes are Additional Notes under and as defined in the
Indenture and are treated as a single series with the $750 million aggregate
principal amount of 3.875% First Lien Senior Secured Notes due 2028 (the
"Initial Notes" and, together with the Additional Notes, the "Notes") previously
issued under the Indenture and have substantially the same terms as those of the
Initial Notes for all purposes under the Indenture, including, waivers,
amendments, redemptions and offers to purchase. The Issuers expect to use the
net proceeds from the issuance of the Additional Notes to repay all of the
Issuers' $775 million outstanding 4.250% First Lien Senior Secured Notes due
2024 (the "2024 First Lien Notes"), plus any accrued and unpaid interest
thereon, and pay related premium, fees and expenses.

The Additional Notes issued pursuant to Regulation S ("Regulation S") under the
U.S. Securities Act of 1933, as amended (the "Securities Act") are initially
issued bearing a temporary CUSIP number that differs from the CUSIP number under
which the Initial Notes issued pursuant to Regulation S currently trade. As
promptly as practicable following the 40th day after the issue date, we intend
to cause the Additional Notes issued pursuant to Regulation S to be consolidated
with and share the same CUSIP number as the Initial Notes issued pursuant to
Regulation S. Following such consolidation, we expect that the Additional Notes
issued pursuant to Regulation S will be fungible with the Initial Notes issued
pursuant to Regulation S for trading purposes.

Interest; Ranking; Guarantees; security

The Notes will mature on January 15, 2028 and bear interest at a rate of 3.875%
per annum, payable semi-annually in cash in arrears on March 15 and September 15
of each year, beginning on September 15, 2021. 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 obligation under the Issuers' 4.375% Second Lien Senior
Secured Notes due 2028 (the "2028 Second Lien Notes"), the Issuers' 4.000%
Second Lien Secured notes due 2030 (the "2030 Second Lien Notes" and, together
with the 2028 Second Lien Notes, the "Existing Second Lien Notes"), the Issuers'
5.750% First Lien Senior Secured Notes due 2025 (the "2025 First Lien Notes"),
the Initial Notes and the Issuers' 3.500% First Lien Senior Secured Notes due
2029 (the "2029 First Lien Notes" and, collectively with the the 2025 First Lien
Notes and the Initial Notes, the "Existing First Lien Notes" and, together with
the Existing Second Lien Notes, the "Existing Notes"); (ii) equal in right of
payment with all of the Issuers' existing and future first-priority senior
secured debt, including the Existing First Lien Notes and borrowings under the
Senior Secured Credit Facilities, to the extent of the value of the collateral
securing such debt; (iii) effectively senior in the right of payment to all of
the Issuers' existing and future unsecured senior debt and junior lien debt,
including the Existing Second Lien Notes, to the extent of the value of the
collateral securing the Notes; (iv) senior in right of payment to all of the
Issuers' future subordinated debt; and (v) structurally subordinated to all
existing and future liabilities of the Issuers' non-guarantor subsidiaries.

The Bonds are guaranteed (the “Guarantees”) fully and unconditionally, jointly and individually, on a senior basis guaranteed by each of the restricted subsidiaries wholly owned by the Issuers which guarantee the obligations of the Issuers under certain credit facilities. secured credit facilities).

The Guarantees will be the Guarantors' first-priority senior secured obligations
and will be (i) equal in right of payment with all of such Guarantors' existing
and future senior debt, including borrowings under and guarantees of the Senior
Secured Credit Facilities and guarantees in respect of the Existing Notes and
the existing notes of The TDL Group Corp. (the "Existing THI Notes"); (ii) equal
in right of payment with all of such Guarantors' existing and future
first-priority senior secured debt,

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including the Existing First Lien Notes and the Existing THI Notes (which are
secured by a first-priority lien on the assets of The TDL Group Corp.) and
borrowings under and guarantees of the Senior Secured Credit Facilities, to the
extent of the value of the collateral securing such debt; (iii) effectively
senior to all of such Guarantors' existing and future unsecured senior debt and
junior lien debt, including guarantees in respect of the Existing Second Lien
Notes, to the extent of the value of the collateral securing the guarantees;
(iv) senior in right of payment to all of such Guarantors' future subordinated
debt and (v) structurally subordinated to all existing and future liabilities of
all such Guarantors' non-guarantor subsidiaries.

Optional redemption

The Issuers may redeem some or all of the Notes at any time prior to September
15, 2022 at a price equal to 100% of the principal amount of the Notes redeemed
plus a "make-whole" premium, plus accrued and unpaid interest, if any, to, but
excluding, the redemption date. The Issuers may redeem some or all of the Notes
at any time on or after September 15, 2022 at the redemption prices set forth in
the Indenture. In addition, at any time prior to September 15, 2022, up to 40%
of the original aggregate principal amount of the Notes may be redeemed with the
net proceeds of certain equity offerings, at the redemption price specified in
the Indenture. The Notes may also be redeemed upon certain changes in tax laws.

In connection with any tender offer for the Notes, including a change of control
offer or an asset sale offer, the Issuers will have the right to redeem the
Notes at a redemption price equal to the amount offered in that tender offer if
holders of not less than 90% in aggregate principal amount of the outstanding
Notes validly tender and do not withdraw such Notes in such tender offer.

Change of control

If the Issuers experience a change of control, the Issuers must offer to
repurchase the Notes from the holders thereof at a purchase price equal to 101%
of the principal amount thereof, plus accrued and unpaid interest (including
additional amounts specified in the Indenture, if any), if any, to, but
excluding, the date of such repurchase.

Commitments and events of default

The terms of the Indenture, among other things, limit the ability of the Issuer
and its restricted subsidiaries to (i) incur additional indebtedness or
guarantee indebtedness; (ii) create liens or use assets as security in other
transactions; (iii) declare or pay dividends, redeem stock or make other
distributions to stockholders; (iv) make investments; (v) merge, amalgamate or
consolidate, or sell, transfer, lease or dispose of substantially all of the
Issuers' assets; (vi) enter into transactions with affiliates; (vii) sell or
transfer certain assets; and (viii) agree to certain restrictions on the ability
of restricted subsidiaries to make payments to the Issuers and their restricted
subsidiaries. These covenants are subject to a number of important conditions,
qualifications, exceptions and limitations that are described in the Indenture.

The Indenture provides for customary events of default (subject in certain cases
to customary grace and cure periods), which include payment defaults, a failure
to pay certain judgments and certain events of bankruptcy and insolvency. These
events of default are subject to a number of important qualifications,
limitations and exceptions that are described in the Indenture.

The foregoing summary of the Indenture does not purport to be complete and is
qualified in its entirety by reference to the complete terms of the Base
Indenture, filed as Exhibit 4.13 hereto, the form of Notes, filed as Exhibit
. . .


Article 2.03. Creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a registrant

Information included in section 1.01 of this current report is incorporated by reference in section 2.03.

Item 9.01 Financial statements and supporting documents.

(d) Exhibits
Exhibit No.               Description
  4.13                      Indenture, dated as of September 24, 2019 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

guarantee agent (constituted

                          by reference to Exhibit 4.13 of Restaurant Brands International Inc.'s
                          Current Report on Form 8-K, dated September 24, 2019).
  4.13(a)                   Form of 3.875% First Lien Senior Secured Notes

due 2028 (incorporated by

                          reference to Exhibit 4.13(a) of Restaurant Brands

International Inc.

                          Current Report on Form 8-K, dated September 24,

2019).

  4.19                      Fourth Supplemental Indenture, dated as of July

6, 2021, by and among

                          1011778 B.C. Unlimited Liability Company, as

transmitter, New Red Finance, Inc.,

                          as co-issuer, the guarantors party thereto and

Wilmington Trust, National

                          Association, as trustee and collateral agent.
104                       Cover Page Interactive Data File (the cover page tags are embedded within
                          the Inline XBRL document).



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