Bulletin: Burger King France Proposed Floating-Rate Note Tap Of Up To €50 Million Is Within Rating Tolerances - S&P Global Ratings’ Credit Research

Bulletin: Burger King France Proposed Floating-Rate Note Tap Of Up To €50 Million Is Within Rating Tolerances

Bulletin: Burger King France Proposed Floating-Rate Note Tap Of Up To €50 Million Is Within Rating Tolerances - S&P Global Ratings’ Credit Research
Bulletin: Burger King France Proposed Floating-Rate Note Tap Of Up To €50 Million Is Within Rating Tolerances
Published May 12, 2023
4 pages (1671 words) — Published May 12, 2023
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Abstract:

PARIS (S&P Global Ratings) May 12, 2023--S&P Global Ratings said today that the incremental financing that Burger King France SAS (B-/Stable/--) proposes is within the tolerances for the 'B-' rating. Burger King France plans to raise up to €50 million in incremental floating-rate notes (FRNs), which will be fully fungible with the existing €620 million FRNs maturing in 2026. This incremental issuance will fund the purchase of the Burger King franchise network in La Reunion. On May 2, 2023, Burger King France announced that it had entered into exclusive negotiations with Iriben, the holding company of Mr. Philippe Lariche, for the acquisition of a majority stake in Burger King La Reunion, which operates 17 restaurants on the island, with the

  
Brief Excerpt:

...May 12, 2023 PARIS (S&P Global Ratings) May 12, 2023--S&P Global Ratings said today that the incremental financing that Burger King France SAS (B-/Stable/--) proposes is within the tolerances for the 'B-' rating. Burger King France plans to raise up to 50 million in incremental floating-rate notes (FRNs), which will be fully fungible with the existing 620 million FRNs maturing in 2026. This incremental issuance will fund the purchase of the Burger King franchise network in La Reunion. On May 2, 2023, Burger King France announced that it had entered into exclusive negotiations with Iriben, the holding company of Mr. Philippe Lariche, for the acquisition of a majority stake in Burger King La Reunion, which operates 17 restaurants on the island, with the aim of completing the transaction by the end of May. The Burger King La Reunion network was not previously part of Burger King France's franchise perimeter. At first, Burger King France will operate the 17 restaurants itself, but then should...

  
Report Type:

Bulletin

Ticker
1318330D@FP
Issuer
BURGER KING France SAS
GICS
Restaurants (25301040)
Sector
Global Issuers
Country
France
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Burger King France Proposed Floating-Rate Note Tap Of Up To €50 Million Is Within Rating Tolerances" May 12, 2023. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Burger-King-France-Proposed-Floating-Rate-Note-Tap-Of-Up-To-50-Million-Is-Within-Rating-Tolerances-2985877>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Burger King France Proposed Floating-Rate Note Tap Of Up To €50 Million Is Within Rating Tolerances May 12, 2023. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Burger-King-France-Proposed-Floating-Rate-Note-Tap-Of-Up-To-50-Million-Is-Within-Rating-Tolerances-2985877>
  
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