Yum! Brands Inc (YUM) Key Developments | Reuters.com
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Yum! Brands Inc (YUM)

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29 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Yum Brands says announces pricing of notes offering
Thursday, 2 Jun 2016 04:27pm EDT 

Yum! Brands Inc - : Notes will be sold to investors at par . Aggregate principal amount of notes to be issued in offering was decreased from previously announced $2.3 billion to $2.1 billion . Aggregate principal amount of company's new senior secured credit facilities will be increased from $2.3 billion to $2.5 billion . Some units priced $1.05 billion of 5.00% senior notes due 2024 and $1.05 billion of 5.25% senior notes due 2026 .Yum! Brands, Inc. announces pricing of notes offering.  Full Article

Kentucky Fried Chicken announces adoption of mobile pay in U.S. restaurants
Wednesday, 1 Jun 2016 11:49am EDT 

Kentucky Fried Chicken: Kentucky Fried Chicken announced today adoption of mobile pay in U.S. restaurants . New system is compatible with Android Pay, Apple Pay and Samsung Pay . Mobile Pay is available in some restaurants beginning now, with system-wide adoption completed by end of summer .New mobile payment system will be functional in KFC drive-thrus as well.  Full Article

Pizza Hut to remove BHA/BHT from all meats by end of July
Tuesday, 31 May 2016 08:00am EDT 

Yum! Brands Inc : Pizza hut will remove from its list of ingredients artificial preservatives from cheese by end of March 2017 . Pizza hut will remove BHA/BHT from its list of ingredients from all meats by end of July 2016 .Pizza hut to remove from list of ingredients antibiotics important to human medicine from chicken for its pizzas by end of march 2017.  Full Article

Yum! Brands says authorization of up to $4.2 bln in share repurchases
Friday, 20 May 2016 02:12pm EDT 

Yum! Brands : Yum! Brands Inc says planned separation of its china business is on track to be completed by end of 2016 . "additional repurchases part of co's commitment to returning $6.2 billion of capital to shareholders prior to planned separation of china unit" . yum! Brands Inc says quarterly dividend is in addition to targeted $6.2 billion in return of capital . Yum! Brands Inc says $4.2 billion in additional share repurchases of outstanding common stock is authorized through december 31, 2016 .Yum! Brands, Inc. Announces authorization of up to $4.2 billion in share repurchases and declares quarterly dividend of $0.46 per share.  Full Article

Yum! brands to offer $4.6 billion in new debt
Wednesday, 18 May 2016 05:01pm EDT 

Yum! Brands Inc : Yum! brands, inc. To offer $4.6 billion in new debt . New debt is intended to fund return of capital to shareholders, repay borrowings under company's existing revolving credit facility . Debt will be issued by certain subsidiaries that operate company's KFC, Pizza Hut and Taco Bell businesses . $1 billion revolving credit facility will replace company's existing revolving credit facility . New debt will be comprised of a new senior secured credit facility including an $800 million term loan a and a $1.5 billion term loan b .New debt will also be comprised of $2.3 billion of senior unsecured notes.  Full Article

Yum! Brands prices $2.3 billion securitized financing facility
Thursday, 5 May 2016 04:15pm EDT 

Yum! Brands Inc:Prices $2.3 billion securitized financing facility.Special purpose subsidiary of taco bell to issue, sell $800 million of issuer's series 2016-1 3.832% fixed rate senior secured notes, class a-2-i.Subsidiary of taco bell has agreed to issue and sell $500 million of its series 2016-1 4.377% fixed rate senior secured notes, class a-2-ii.Expects to use proceeds from expected sale of notes to pay down entire outstanding balance of $2.0 billion of its unsecured term loan facility.Issuer also intends to enter into a purchase agreement under which it will issue $100 million of series 2016-1 class a-1 notes.Subsidiary of taco bell has agreed to issue and sell $1 billion of its series 2016-1 4.970% fixed rate senior secured notes, class a-2-iii.Expects to use proceeds from expected sale of notes to pay down entire outstanding balance of $2.0 billion of its unsecured term loan facility.Separation of its china business is on track to be completed by end of 2016.  Full Article

Yum! Brands promotes David Gibbs to President and Chief Financial Officer
Wednesday, 27 Apr 2016 09:00am EDT 

Yum! Brands:Promotes David Gibbs to President and Chief Financial Officer.  Full Article

Yum! Brands executes amendment to the unsecured term loan facility entered into on Dec. 8, 2015
Tuesday, 8 Mar 2016 04:49pm EST 

Yum! Brands:On March 4, 2016 Yum Brands Inc! executed an amendment to the unsecured term loan facility entered into on December 8, 2015.Amendment increased the size of the amended credit facility by an amount equal to $500 million to a total of up to $2.0 billion.Yum may borrow up to the full amount of the $500 million increase in the amended credit facility in a single borrowing by March 18, 2016.  Full Article

Yum! Brands, Inc declares quarterly dividend
Friday, 4 Mar 2016 04:15pm EST 

Yum! Brands, Inc:Declared a dividend of $0.46 per share of common stock. The quarterly dividend will be distributed May 6, 2016 to shareholders of record at the close of business on April 15, 2016.  Full Article

Yum! Brands Executive Chairman David C. Novak to Retire in May 2016
Tuesday, 5 Jan 2016 04:30pm EST 

Yum! Brands, Inc:Says David C. Novak, Executive Chairman, plans to retire in May 2016 following Company's annual shareholder meeting and step down from Company's Board at that time.The Board plans to appoint a Non-Executive Chairman from among its Directors to succeed Novak and will announce that appointment at Company's annual shareholder meeting.  Full Article

BRIEF-Yum! Brands Inc closes new senior secured credit facilities and notes offering

* Yum! Brands, Inc announces closing of new senior secured credit facilities and notes offering Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)