Yum! Brands $1.97 Billion Senior Secured Refinancing Term Loan Facility

Davis Polk advised (i) the joint lead arranger, administrative agent and collateral agent, the joint lead arrangers and joint bookrunners and the documentation agent in connection with a $1.97 billion senior secured refinancing term B loan credit facility for KFC Holding Co., Pizza Hut Holdings, LLC and Taco Bell of America, LLC, domestic subsidiaries of Yum! Brands, Inc.

JPMorgan Chase Bank, N.A. acted as Collateral Agent, Swing Line Lender and Administrative Agent.

Proceeds of the facility were used to reprice and refinance the existing term B loans.

Yum! Brands, based in Louisville, Kentucky, is one of the world’s largest restaurant companies with over 42,000 restaurants in more than 130 countries and territories. Yum! Brands operates the licensed brands of Taco Bell, KFC and Pizza Hut.

The Davis Polk credit team included partner Meyer C. Dworkin (Picture) and associates A. McLean Crichton, Michael P. Raymond and William Son.


Involved fees earner: Meyer Dworkin – Davis Polk & Wardwell; McLean Crichton – Davis Polk & Wardwell; Michael Raymond – Davis Polk & Wardwell; William Son – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: JPMorgan Chase & Co.;



Author: Ambrogio Visconti