Burger King Corporation Announces Debt Refinancing

Burger King Corporation Announces Debt Refinancing

MIAMI, July 13 /PRNewswire/ -- Burger King Corporation (BKC) today announced the successful closing of the refinancing of its debt, effective today, July 13. The $1.15 billion transaction will reduce Burger King Corporation's total debt and annual interest expense and will create the Company's first stand-alone bank group since the Company was last independent in 1967.

(Logo: http://www.newscom.com/cgi-bin/prnh/20031014/BKLOGO )

"This transition marks an important step in Burger King's history," said Greg Brenneman, chairman and CEO of Burger King Corporation. "The refinancing will give BKC the flexibility and resources it needs to fund our future growth. We are especially pleased by the strong market response to our offering."

J.P. Morgan Securities Inc. and Citigroup Global Markets Inc. led the financing as co-lead arrangers and joint bookrunners.

The Company's credit facilities were previously guaranteed by Burger King Corporation's former parent company, the UK-based Diageo plc.

About Burger King Corporation

The BURGER KING(R) system operates more than 11,000 restaurants in more than 60 countries and territories worldwide. Approximately 90 percent of BURGER KING restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. Burger King Holdings Inc., the parent Company, is private and independently owned by an equity sponsor group comprised of Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners. To learn more about BURGER KING, please visit the Company's Web site at < http://www.burgerking.com/ >.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20031014/BKLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com Source: Burger King Corporation

CONTACT: Edna Johnson, Burger King Corporation, +1-305-378-7515, or ednajohnson@whopper.com

Web site: http://www.burgerking.com/

Company News On-Call: http://www.prnewswire.com/comp/124650.html

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