Yum! Brands, Inc. Announces Upsizing and Pricing of Notes Offering
Yum! Brands, Inc. (YUM)
Last yum! brands, inc. earnings: 4/29 07:00 am
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Source: Business Wire
LOUISVILLE, Ky.--(BUSINESS WIRE)--Yum! Brands, Inc. (NYSE: YUM) (the “Company”) today announced that it has priced its previously announced notes offering and has agreed to issue and sell $600 million aggregate principal amount of its 7.75% Senior Notes due 2025 (the “Notes”). The aggregate principal amount of Notes to be issued in the offering was increased to $600 million from the previously announced $500 million. The Notes will be sold to investors at par.The Notes will be the Company’s general unsecured senior obligations and will not be guaranteed by any of the Company’s subsidiaries. Net proceeds from the Notes offering will be used to pay the fees and expenses of the offering and for general corporate purposes. The closing of the Notes offering is scheduled to occur on April 1, 2020, subject to customary closing conditions.The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and
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