September 23, 2017 4:35 AM ET

Hotels, Restaurants and Leisure

Company Overview of Taco Bell Of America LLC

Company Overview

Taco Bell Of America LLC owns and operates restaurant. The company was incorporated in 1997 and is based in Louisville, Kentucky. Taco Bell Of America LLC operates as a subsidiary of Yum! Brands, Inc.

Louisville, KY 

United States

Founded in 1997

Key Executives for Taco Bell Of America LLC

Taco Bell Of America LLC does not have any Key Executives recorded.

Taco Bell Of America LLC Key Developments

KFC Holding Co., Pizza Hut Holdings, LLC, and Taco Bell of America, LLC Completes the Issuance and Sale of $750 Million Aggregate Principal Amount of 4.75% Senior Notes Due 2027

On June 15, 2017, KFC Holding Co., Pizza Hut Holdings, LLC, and Taco Bell of America, LLC, completed the issuance and sale of $750 million aggregate principal amount of 4.75% Senior Notes due 2027 in a previously announced private offering. The Notes were sold only to qualified institutional buyers in compliance with Rule 144A of the Securities Act of 1933, as amended, and to non-U.S. persons outside of the United States in compliance with Regulation S of the Securities Act. The Notes were issued under an Indenture, dated as of the Closing Date, by and among the Issuers, the Guarantors and The Bank of New York Mellon Trust Company, N.A., as trustee. The Issuers issued $750 million aggregate principal amount of Notes on the Closing Date. The Notes are general, unsecured, senior obligations of the Issuers. The Notes will mature on June 1, 2027. Interest on the Notes is payable semi-annually in arrears on June 1 and December 1, beginning on December 1, 2017, to holders of record of the Notes on the immediately preceding May 15 and November 15, respectively. The Notes will bear interest at a rate of 4.75% per annum. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including the Closing Date. The Issuers may redeem all or part of the Notes at any time prior to June 1, 2022, by paying a redemption price equal to 100% of the principal amount of Notes plus the Applicable Premium plus accrued and unpaid interest, if any, to the redemption date.

KFC Holding Co., Pizza Hut Holdings, LLC and Taco Bell of America, LLC Announce Pricing of Notes

Yum! Brands Inc. announced that its subsidiaries KFC Holding Co., Pizza Hut Holdings, LLC and Taco Bell of America, LLC, as co-issuers (together, the Issuers) have priced their previously announced notes offering and have agreed to issue and sell $750 million aggregate principal amount of 4.75% Senior Notes due 2027. The aggregate principal amount of Notes to be issued in the offering was increased to $750 million from the previously announced $500 million. The Notes will be sold to investors at par. The notes will be unsecured and will be guaranteed on a senior unsecured basis by the Company and the Company’s domestic subsidiaries that guarantee the Issuers’ outstanding $2.1 billion senior unsecured notes and the Issuers’ senior secured credit facility. Net proceeds from the offering of the Notes will be used to pay the fees and expenses of the offering and to repay outstanding amounts under the Issuers’ revolving credit facility. The remainder of the net proceeds will be used to make a cash distribution to the Company to fund share repurchases, dividends and/or repayment of indebtedness. The closing of the Notes offering is scheduled to occur on June 15, 2017, subject to customary closing conditions. The Notes have not been and will not be registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements. Accordingly, the Notes will be offered and sold in the United States only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended and to non-U.S. persons in offshore transactions outside the United States in accordance with Regulation S under the Securities Act. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Pizza Hut Holdings, LLC, KFC Holding Co. and Taco Bell of America, LLC Enter into a Refinancing Amendment to the Credit Agreement

On June 7, 2017, Pizza Hut Holdings, LLC, KFC Holding Co. and Taco Bell of America, LLC entered into a Refinancing Amendment to the Credit Agreement, dated as of June 16, 2016 (as amended by the Refinancing Agreement, dated March 21, 2017, the Credit Agreement), among the Borrowers, JPMorgan Chase Bank, N.A., as Collateral Agent, Swing Line Lender, an L/C Issuer and Administrative Agent for the Lenders, and the Lenders from time to time party thereto, pursuant to which the Company repriced its existing approximately $500 million Term Loan A facility and $1 billion revolving facility. The Amendment reduces the interest rate applicable to the Term A Loan and for borrowings under the Revolving Facility by 0.75% to adjusted LIBOR plus 1.50%, with a rate stepdown to adjusted LIBOR plus 1.25% in the event the Total Leverage Ratio is less than 2.75 to 1. The maturity date for the Term A Loan and the Revolving Facility has been extended to June 7, 2022 pursuant to the Amendment. Term A Loan amortization payments will begin one full fiscal quarter after the first anniversary of the Amendment Effective Date, which delays the former amortization schedule by approximately one year. All other material provisions of the Credit Agreement remain unchanged.

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