This Wednesday, Restaurant Brands Iberia (RBI) is negotiating a loan to carry out the acquisition of the Portuguese company Ibersol. The company will issue debt worth 260 million euros, with a maturity date of six years, according to information from the newspaper “El País”.

After several months of negotiations between the two companies, the agreed value for the purchase was 260 million euros, but RBI will have to make the payment entirely with debt, given the closure of financial markets due to the war in Ukraine, rising interest rates and rising inflation.

This company contracted two banks ING Group and Santander, which launched a syndicated loan (‘Term Loan B’ – TLB) that will be placed with institutional investors. The TLB is a secured senior loan.

The debt will have a maturity of 5.8 years. The initial price is indexed to Euribor plus a spread of 550 basis points and the debt will be placed at a slight discount, around 95% of the nominal value. Investors can submit bids to underwrite any tranche of this debt until Friday, January 27th.

It was in December last year that RBI announced the acquisition of the company Ibersol, owner of the two companies that operate the Burger King restaurants in Portugal and Spain, for a total of 260 million euros. With this purchase, RBI has around 800 own restaurants in the Iberian Peninsula and over 800 million euros in turnover. It will manage 65% of Burger King restaurants in Spain.


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