AmRest completes the amendment and extension of its €900 million syndicated financing facility to strengthen its financial position
The transaction extends the maturity of the syndicated financing facility until 2031, increases the revolving facility by up to €100 million, reduces financing costs and provides greater flexibility to support the Group's long-term growth strategy.
AmRest Group, Europe's leading multi-brand restaurant operator, has completed the amendment of its existing syndicated financing agreement, further strengthening the Group's long-term financial flexibility and stability.
The transaction has been agreed with the same syndicate of financial institutions that participated in the original financing agreement, comprising BBVA, BNP Paribas Bank Polska, Bank Polska Kasa Opieki, Česká Spořitelna, Rabobank, ING Bank Śląski, PKO Bank Polski, Banco Santander and Erste Bank Polska (following Santander's sale of its business in Poland). BBVA and ING acted as Sustainability Coordinators, while Banco Santander served as Facility Agent.
The amended agreement revises the terms of the existing financing facility, originally signed in December 2023, by restructuring its tranche composition and increasing the revolving facility by up to €100 million to support the Group's working capital requirements. It also includes a two-year grace period from the signing date and extends the facility's maturity to 2031, with the option of two additional one-year extensions, subject to the approval of the lending banks.
The transaction also reduces the applicable margin and amends certain financial covenants and other provisions of the financing agreement to better align them with the company's current needs. In addition, it provides for the possibility of incorporating one or more additional accordion facilities of up to €300 million in aggregate, offering the Group greater financial flexibility.
The amended financing agreement remains subject to customary obligations for transactions of this nature, including compliance with certain financial ratios, and continues to benefit from guarantees provided by certain companies within the Group.
About AmRest Group
AmRest Group is Europe's leading multi-brand restaurant operator, with a portfolio of leading brands across 22 countries. AmRest operates more than 2,100 restaurants under franchised brands including KFC, Starbucks, Pizza Hut and Burger King, as well as proprietary brands such as La Tagliatella, Sushi Shop, Blue Frog and Bacoa. More information is available at www.amrest.eu.
About Taco Bell Corp.
Taco Bell Corp., a subsidiary of Yum! Brands, Inc. (NYSE: YUM), is the world's leading Mexican-inspired quick-service restaurant brand. Taco Bell serves tacos, burritos and other made-to-order, customizable specialties featuring bold flavors, high-quality ingredients, outstanding value and best-in-class customer service to more than 40 million customers every week around the world. Today, the company operates more than 1,250 Taco Bell restaurants across 37 countries and territories outside the United States.
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