Burger King Holdings Inc. Announces Debt Retirement29 May 2006
Burger King Holdings Inc. (NYSE: BKC) today announced that it has retired $350 million in debt, following its initial public offering and listing on the New York Stock Exchange on May 18.
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"I am pleased to report that we have retired $350 million in debt," said John W. Chidsey, CEO of Burger King Corporation. "Reducing the debt level of our company by 25 percent allows us greater flexibility in financial markets as well as increased cash flow for future investment spending, which will, in turn, benefit our shareholders and investors in the long term."
About Burger King Holdings Inc. and Burger King Corporation
The BURGER KING(R) system operates more than 11,100 restaurants in all 50 states and in more than 65 countries and U.S. territories worldwide. Approximately 90 percent of BURGER KING Restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. To learn more about Burger King Corporation, please visit the company's Web site at < http://www.burgerking.com >.
Certain statements made in this news release are forward-looking in nature and, accordingly, are subject to risks and uncertainties. These forward- looking statements are only predictions based on our current expectations and projections about future events. Important factors could cause our actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, those discussed in our Registration Statement on Form S-1 under the caption "Risk Factors."
Source: prnewswire
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