Summary
McDonald's Corporation (MCD) filed an 8-K on August 15, 2018, to report on the issuance of U.S.$1.8 billion in medium-term notes. This debt offering was conducted under the company's existing medium-term notes program, previously registered on a Form S-3 filing. The issuance comprises three tranches with varying maturity dates and interest rates, aimed at financing general corporate purposes. This filing is primarily an informational disclosure regarding the company's financing activities. Investors should note that the proceeds from this debt issuance are intended for general corporate purposes, which could include capital expenditures, share repurchases, or debt repayment. The specific terms and conditions of the notes, including their interest rates and maturity, are detailed in the pricing supplements referenced in the filing.
Key Highlights
- 1McDonald's Corporation issued an aggregate principal amount of U.S.$1.8 billion in medium-term notes on August 15, 2018.
- 2The issuance was made pursuant to the company's existing medium-term notes program.
- 3The notes were registered under a Form S-3 filed with the SEC, effective July 27, 2018.
- 4The issuance includes three tranches: U.S.$500 million due 2023 (3.350% interest), U.S.$550 million due 2028 (3.800% interest), and U.S.$750 million due 2048 (4.450% interest).
- 5The proceeds from the notes are intended for general corporate purposes.
- 6The filing includes the legal opinion of the Corporate Executive Vice President, General Counsel and Secretary as an exhibit.