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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Burger King Obtains $9.5B Financing Package From JP Morgan, Wells Fargo
Wednesday, August 27, 2014
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Lenders/Participants
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JP Morgan Chase [Lender]
Wells Fargo Bank [Lender]
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Structure
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$500MM Revolver; 6.75B Senior Term Loan; $2.25B Senior Second Lien Notes
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Amount
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$9.500
Billion
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Borrower(s)
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Burger King
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Description
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Burger King has obtained commitments for $12.5 billion of financing to fund the cash portion of the transaction, including commitments for a $9.5 billion debt financing package led by JP Morgan and Wells Fargo. The obligation of JP Morgan and Wells Fargo to provide this committed debt financing is subject to a number of customary conditions, including execution and delivery of certain definitive documentation. It is expected that the debt financing for the transaction will consist of a $6.75 billion senior secured term loan B facility, a $500 million senior secured revolving credit facility and senior secured second-lien notes in the amount of $2.25 billion. Berkshire Hathaway has committed $3 billion of preferred equity financing. Berkshire is simply a financing source and will not have any participation in the management and operation of the business. Transaction details not disclosed.
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Industry
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Restaurant
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| Related Tags |
JP Morgan, Wells Fargo Bank
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ABL Advisor
Deal Tables
2024
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