ABF Journal illustrator Jerry Gonzalez provides his take on Wells Fargo and JPMorgan Chase’s commitment to provide a $9.5 billion debt financing package to support the recently announced Burger King/Tim Horton’s merger.
Fitch Ratings has assigned issuer and expected issue level ratings related to Burger King Worldwide’s proposed acquisition of Tim Hortons. Fitch assigned the long-term issuer default rating as B/Outlook Stable.
Reuters reported Burger King Worldwide is lining up a $7.25 billion loan package to finance its $11.5 billion acquisition of Tim Hortons, sources told Reuters.
Tim Hortons and Burger King said they will merge, creating the third largest quick service restaurant company. Burger King obtained commitments for a $9.5 billion financing package led by JPMorgan and Wells Fargo.