Burger King Owner Sells Loan in Biggest Deal Since 2022 (1)

Restaurant Brands International Inc. sold the largest leveraged loan to hit the market since early 2022 after boosting the size of its offering twice and scrapping a proposed bond deal.

The JPMorgan Chase & Co.-led leveraged loan sale, which was upsized to $5.175 billion from $4.16 billion, will be used to refinance Restaurant Brands’ term loan due 2026. The deal priced Sept. 12 at its last tightened terms: a discounted price of 99.5 cents on the dollar and a margin of 225 basis points over the Secured Overnight Financing Rate. Earlier discussions had called for a discounted price ...