Tim Hortons to settle all early tenders in offers for three note series

By Susanna Moon

Chicago, Feb. 9 – Tim Hortons ULC, formerly known as Tim Hortons Inc., said it has opted to accept for purchase all notes tendered by 5 p.m. ET on Feb. 6, with settlement on Feb. 9.

The tender offers will continue until 11:59 p.m. ET on Feb. 23, according to a company press release. The offers began on Jan. 26.

No details of the tendered amounts were given in the press release Monday.

As previously announced, the company is offering to repurchase any and all of its outstanding

• 4.2% senior notes, series 1, due June 1, 2017;

• 4.52% senior notes, series 2, due Dec. 1, 2023; and

• 2.85% senior notes, series 3, due April 1, 2019.

The total purchase price will be cash of par plus an early tender premium of C$10 per C$1,000 principal amount of notes tendered by the early tender deadline.

Those who tender after the early deadline will receive par.

Holders also will receive accrued interest up to the settlement date.

Georgeson Shareholder Communications Canada Inc. (866 413-9464 or by email at askus@georgeson.com) is the information agent.

Tim Hortons, part of Restaurant Brands International, is a publicly traded restaurant chain based in Oakville, Ont.

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