Yum! Brands amends terms of cash tender offer
May 14, 2009
LOUISVILLE, Ky. — Yum! Brands Inc., parent company of Pizza Hut, KFC and Taco Bell, has announced that it has amended the terms of its cash tender offer to purchase $150 million of its 7.7 percent Senior Notes due July 1, 2012. Yum! Brands is now offering to pay the total consideration (which includes the early tender payment of $40 per $1,000 principal amount of the notes) to all holders who validly tender and do not validly withdraw their notes at or prior to the expiration of the tender offer, which is 11:59 p.m. Eastern time May 28.
As of 5 p.m. Eastern time May 13, holders had tendered approximately $129 million of the notes.
Financing and capital improvements