Subsidiaries of Restaurant Brands International entered into an amendment to an existing credit agreement, extending the maturity date of Restaurant Brands International’s senior secured revolving credit facility from Oct. 7, 2024, to Dec. 13, 2026, and increasing the existing term loan A facility with $717 million outstanding to a $1.25 billion term loan A facility with the same maturity as the revolving credit facility.

The amendment also amended the interest rate applicable to the revolving credit facility and the term loan A facility to be based on term SOFR. The amendment also includes adjustments to certain negative covenants to provide increased flexibility. The security and guarantees under the amended revolving credit facility and term loan a facility will be the same as those under the existing facilities. The amendment made no other material changes to the terms of the credit agreement.

According to an 8K filed with the SEC, JPMorgan Chase Bank is the administrative agent for the credit agreement.

Restaurant Brands International used proceeds from the increase to the term loan A facility and cash on hand to complete its acquisition of Firehouse Restaurant Group for $1 billion. With the close of the acquisition, Restaurant Brands International added quick service restaurant brands Tim Hortons, Burger King and Popeyes to its portfolio.