Summary by Futu AI
McDonald's Corporation has announced the issuance of Medium-Term Fixed Rate Notes due May 17, 2034, with a principal amount of USD 500,000,000. The notes, which were priced at 99.669% of their principal amount, will carry an interest rate of 5.200% per annum, payable semi-annually on May 17 and November 17, starting November 17, 2024. The original issue date is set for May 17, 2024. McDonald's has the option to redeem the notes in whole or in part at any time prior to the stated maturity, with specific redemption prices outlined for periods before and after the Par Call Date of February 17, 2034. The notes are book-entry and will not be subject to a sinking fund. The offering was led by a syndicate of banks including BofA Securities, MUFG Securities Americas Inc., and RBC Capital Markets, among others. The net proceeds to McDonald's from the sale of the notes, after deducting the agents' discount, will be approximately 99.219% of the principal amount.