Industry News | October 6, 2006
Burger King Announces Debt Retirement
On May 26, approximately $350 million of the $392 million in net proceeds raised in the IPO was used to retire debt. On Monday, July 31, the company retired an additional $50 million in debt, also using cash generated from operations.
"Our operational cash flow continues to be strong and has enabled us to pay down $85 million in debt during the first four months of our 2007 fiscal year," says Chief Financial Officer Ben Wells. "This reduced debt level strengthens our balance sheet and gives us greater flexibility in financial markets. Additionally, our deleveraging will increase cash flow for investment spending, which, in the long term, will benefit our shareholders and investors."
Food & Beverage
Thank you for signing up to receive QSR's flagship e-newsletter, A.M. Jolt. To help us better serve the information needs of our audience, please complete the information below.
In addition to A.M. Jolt, we also offer the following e-newsletters and communications. Please mark those you would like to receive.
- Business Services
- Cleaning & Sanitation
- Computer Systems/Software
- Dispensing Equipment
- Disposables, Packaging, Plastics
- Equipment Installation/Repair
- Financial Products/Services
- Food Products
- Franchise Opportunities
- Kitchen Equipment
- Safety Services/Products
- Security Systems