Tim Hortons announces expiry and final settlement of tender offers for its notes

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Feb 25, 2015, 05:15 ET

(All amounts in Canadian dollars)

OAKVILLE, ON, Feb. 25, 2015 /PRNewswire/ - Tim Hortons ULC (f/k/a Tim Hortons Inc.) ("Tim Hortons") announced today the 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") expired at 11:59 p.m., Toronto time, on February 23, 2015. Tim Hortons has accepted for purchase and payment all of the Notes that were properly tendered (and not validly withdrawn) pursuant to the Offers at or prior to the expiration time. The Offers have not been extended and therefore concluded at the expiration time.

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