Monday 30 January 2023

CANADA – Tim Hortons exercises option to purchase notes tendered to its tender offers by early tender deadline

Must read

OAKVILLE, ON – Tim Hortons ULC on Feb. 9, 2015, announced the following.

In connection with its cash tender offers (the “Offers”) to repurchase its outstanding:

  1. 4.20% Senior Unsecured Notes, Series 1, due June 1, 2017 (CUSIP No. 88706 MAA1);
  2. 4.52% Senior Unsecured Notes, Series 2, due December 1, 2023 (CUSIP No. 88706 MAC7); and
  3. 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it has elected to accept for purchase and payment all Notes properly tendered (and not validly withdrawn) at or prior to 5:00 p.m., Toronto time, on February 6, 2015 (such Notes, the “Early Tendered Notes”).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

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.

Latest article