Tim Hortons Exercises Option to Purchase Notes Tendered to its Tender Offers by Early Tender Deadline
(All amounts in Canadian dollars)
OAKVILLE, ON, Feb. 9, 2015 /CNW/ - Tim Hortons ULC (f/k/a Tim Hortons Inc.) ("Tim Hortons") announced today that, in connection with its cash tender offers (the "Offers") to repurchase its outstanding (i) 4.20% Senior Unsecured Notes, Series 1, due June 1, 2017 (CUSIP No. 88706 MAA1); (ii) 4.52% Senior Unsecured Notes, Series 2, due December 1, 2023 (CUSIP No. 88706 MAC7); and (iii) 2.85% Senior Unsecured Notes, Series 3, due April 1, 2019 (CUSIP No. 88706 MAD5) (collectively, the "Notes"), it has elected to accept for purchase and payment all Notes properly tendered (and not validly withdrawn) at or prior to 5:00 p.m., Toronto time, on February 6, 2015 (such Notes, the "Early Tendered Notes"). These Early Tendered Notes were accepted for purchase and payment by Tim Hortons on February 9, 2015.
The early tender deadline for each Offer has elapsed and will not be extended. The final expiration deadline for each Offer remains unchanged. Each Offer will expire at 11:59 p.m., Toronto time, on February 23, 2015, unless extended or earlier terminated.
Beneficial owners whose Notes are held through an intermediary, such as a broker, dealer, commercial bank, trust company or other nominee, must contact that intermediary if they wish to tender their Notes. Intermediaries will establish their own earlier deadlines for their client's acceptance of an Offer. Accordingly, a beneficial owner wishing to accept an Offer should contact its intermediary as soon as possible in order to determine the deadlines by which such owner must act to properly tender its Notes. Tim Hortons obligation to accept for purchase, and to pay for, any Notes tendered to any Offer is subject to the satisfaction or waiver of the conditions to the applicable Offer. Tim Hortons reserves the right to terminate, withdraw or amend any of the Offers at any time, subject to applicable law.
Further Information
The Offers are being made on the terms and subject to the conditions set forth in Tim Hortons Offer to Purchase, dated January 26, 2015, and the related Letter of Transmittal, copies of which are available under Tim Hortons profile on SEDAR at www.sedar.com. Copies of the Offer to Purchase have also been mailed to each of the beneficial owners of the Notes. Holders and beneficial owners of the Notes are urged to evaluate carefully all the information in the Offer to Purchase and the related Letter of Transmittal. No recommendation is made as to whether any person should tender or refrain from tendering any or all of such person's Notes in any Offer.
Any questions or requests for assistance concerning any of the Offers may be directed to Georgeson Shareholder Communications Canada Inc., the information agent for the Offers, at 1-866-413-9464 or by email at [email protected].
The Offers are being made solely by means of the Offer to Purchase and the related Letter of Transmittal. Under no circumstances shall this press release constitute an offer to purchase or the solicitation of an offer to sell any of the Notes.
Tim Hortons® Overview
Tim Hortons, part of Restaurant Brands International, is one of the North America's largest restaurant chains operating in the quick service segment. Founded as a single location in Canada in 1964, Tim Hortons appeals to a broad range of consumer tastes, with a menu that includes premium coffee, hot and cold specialty drinks (including lattes, cappuccinos and espresso shots), specialty teas and fruit smoothies, fresh baked goods, grilled Panini and classic sandwiches, wraps, soups, prepared foods and other food products. As of September 28, 2014, Tim Hortons had 4,590 systemwide restaurants, including 3,665 in Canada, 869 in the United States and 56 in the Gulf Cooperation Council.
About Restaurant Brands International Inc.
Restaurant Brands International (TSX, NYSE: QSR) is one of the world's largest quick service restaurant companies with approximately $23 billion in system sales and over 18,000 restaurants in 100 countries. Restaurant Brands International owns two of the world's most prominent and iconic quick service restaurant brands – Tim Hortons® and BURGER KING®. These independently operated brands have been serving their respective guests, franchisees and communities for over 50 years.
SOURCE Tim Hortons
Matthew Grant, (905) 339-5969 or [email protected]
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