Burger King has raised $685 million in a sale of senior discount notes in the 144a private placement market. The fast food hamburger chain appointed JP Morgan and Barclays as the joint bookrunning managers for the transaction. The notes carry a coupon rate of 11.00%, and are due to mature on April 15, 2019. The company intends to use the proceeds to make a return of capital distribution via direct and indirect parent entities to their indirect equity holders before the end of 2011.
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