The owner of the fast-food company Burger King announced on Tuesday (22) that its board of directors had approved the ninth issue of non-convertible debentures, with a unit value of R$ 1,000. In all, the operation totals R$ 350 million.
According to the company’s material fact, the funds raised will be used for the “ordinary management of the company, including, without limitation, cash flow, capital expenditures, or investment in capital goods (CAPEX)”.
The debentures will have a term of five years and must pay 100% of the DI rate (interbank deposits) per year. The bonds will also be exponentially increased by a spread or surcharge to be defined according to the bookbuilding (debenture pricing process according to supply and demand), limited to 2%.
According to the material fact, there will be no update of the unit value of the debentures. And the nominal balance of each security will be amortized in two installments: the first in an amount of 50% of the unit value balance, due on April 24, 2026; and the second of 100% of the balance of the unit value, on the issue maturity date, except for the optional early redemption or the occurrence of an early maturity event.
As this is a restricted offer, only professional investors who have more than R$10 million in financial investments will be able to purchase the debentures. The offer coordinators will be able to search for a maximum of 75 professional investors and only 50 of them will be able to buy the securities.
Source: CNN Brasil
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