MIAMI, July 13 /PRNewswire/ -- Burger King Corporation (BKC) today
announced the successful closing of the refinancing of its debt, effective
today, July 13. The $1.15 billion transaction will reduce Burger King
Corporation's total debt and annual interest expense and will create the
Company's first stand-alone bank group since the Company was last independent
in 1967.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031014/BKLOGO )
"This transition marks an important step in Burger King's history," said
Greg Brenneman, chairman and CEO of Burger King Corporation. "The refinancing
will give BKC the flexibility and resources it needs to fund our future
growth. We are especially pleased by the strong market response to our
offering."
J.P. Morgan Securities Inc. and Citigroup Global Markets Inc. led the
financing as co-lead arrangers and joint bookrunners.
The Company's credit facilities were previously guaranteed by Burger King
Corporation's former parent company, the UK-based Diageo plc.
About Burger King Corporation
The BURGER KING(R) system operates more than 11,000 restaurants in more
than 60 countries and territories worldwide. Approximately 90 percent of
BURGER KING restaurants are owned and operated by independent franchisees,
many of them family-owned operations that have been in business for decades.
Burger King Holdings Inc., the parent Company, is private and independently
owned by an equity sponsor group comprised of Texas Pacific Group, Bain
Capital and Goldman Sachs Capital Partners. To learn more about BURGER KING,
please visit the Company's Web site at < http://www.burgerking.com >.
SOURCE Burger King Corporation
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Related links:
http://www.burgerking.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20031014/BKLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
Company News On-Call:
http://www.prnewswire.com/comp/124650.html
CONTACT:
Edna Johnson, Burger King Corporation,
+1-305-378-7515, or ednajohnson@whopper.com
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