Tim Hortons Inc. announces pricing of private offering of $450 million of senior unsecured notes

 Tim Hortons Inc. announces pricing of private offering of $450 million of  senior unsecured notes  (All amounts in Canadian dollars)  /NOT FOR RELEASE OVER U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE U.S./  OAKVILLE, ON, March 25, 2014 /CNW/ - Tim Hortons Inc. (TSX: THI, NYSE: THI)  today announced that it has priced an offering of $450 million principal  amount of 2.85% senior unsecured notes due April 1, 2019 (the "Notes").  The  offering is expected to close March 28 2014.  The Notes are being offered in Canada on a private placement basis in reliance  upon exemptions from the prospectus requirements under applicable Canadian  securities legislation. The Notes will bear interest at a fixed annual coupon  rate of 2.85% over the 5-year term. The Notes will rank pari passu with all  other senior unsecured and unsubordinated indebtedness of Tim Hortons, except  as to any sinking fund and statutorily preferred exceptions.  In August 2013, the Board of Directors of Tim Hortons approved a  recapitalization of the Company's balance sheet, including the issuance of  $900 million of additional debt.  That debt target is expected to be met  through a combination of the current offering and the previous issuance in  November 2013 of $450 million of 4.52% senior unsecured notes due December 1,  2023.  Net proceeds from the offering are intended to be used primarily to repay  indebtedness outstanding under a bridge credit facility, which is available  for general corporate purposes, including share repurchases.  The Notes have been provisionally rated BBB with a Stable trend by DBRS  Limited. The offering is being made through an agency syndicate of dealers  consisting of RBC Dominion Securities Inc., TD Securities Inc. and Scotia  Capital Inc. as joint bookrunners, and also including Citigroup Global Markets  Canada Inc.  The Notes have not been and will not be qualified for sale to the public under  applicable securities laws in Canada and, accordingly, any offer and sale of  the Notes in Canada will be made on a basis which is exempt from the  prospectus requirements of such securities laws. This news release does not  constitute an offer to sell, or the solicitation of an offer to buy, the  securities in the United States or any other jurisdiction. The securities have  not been and will not be registered under the United States Securities Act of  1933 (the "U.S. Securities Act") or applicable state securities laws and may  not be offered or sold in the United States absent registration or an  exemption from the registration requirement under the U.S. Securities Act and  applicable state securities laws. The securities being offered have not been  approved or disapproved by any Canadian or U.S. securities regulatory  authority.  Safe Harbor Statement  Certain information in this news release, particularly information regarding  future performance, finances, and plans, expectations and objectives of  management, and other information, constitutes forward-looking information  within the meaning of Canadian securities laws and forward-looking statements  within the meaning of the Private Securities Litigation Reform Act of 1995. We  refer to all of these as forward-looking statements. Various factors including  competition in the quick service segment of the food service industry, general  economic conditions and others described as "risk factors" in the Company's  2013 Annual Report on Form 10-K filed on February 25(th), 2014 with the U.S.  Securities and Exchange Commission and the Canadian Securities Administrators,  could affect the Company's actual results and cause such results to differ  materially from those expressed in, or implied by, forward-looking statements.  As such, readers are cautioned not to place undue reliance on forward-looking  statements contained in this news release, which speak only as to management's  expectations as of the date hereof.  Forward-looking statements are based on a number of assumptions which may  prove to be incorrect, including, but not limited to, assumptions about: (i)  prospects and execution risks concerning our growth strategy; (ii) the absence  of an adverse event or condition that damages our strong brand position and  reputation; (iii) the absence of a material increase in competition or in  volume or type of competitive activity within the quick service restaurant  segment of the food service industry; (iv) cost and availability of  commodities; (v) the absence of an adverse event or condition that disrupts  our distribution operations or impacts our supply chain; (vi) continuing  positive working relationships with the majority of the Company's restaurant  owners; (vii) the absence of any material adverse effects arising as a result  of litigation; (viii) there being no significant change in the Company's  ability to comply with current or future regulatory requirements; (ix) the  ability to retain our senior management team or the inability to attract and  retain new qualified personnel; * the Company's ability to maintain investment  grade credit ratings; (xi) the Company's ability to obtain financing on  favorable terms; and (xii) general worldwide economic conditions.  We are presenting this information for the purpose of informing you of  management's current expectations regarding these matters, and this  information may not be appropriate for any other purpose. We assume no  obligation to update or alter any forward-looking statements after they are  made, whether as a result of new information, future events, or otherwise,  except as required by applicable law. Please review the Company's Safe Harbor  Statement at www.timhortons.com/ca/en/about/safeharbor.html.  Tim Hortons Inc. Overview  Tim Hortons is one of the largest publicly-traded restaurant chains in North  America based on market capitalization, and the largest in Canada. Operating  in the quick service segment of the restaurant industry, 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 December 29, 2013, Tim Hortons had 4,485 systemwide restaurants,  including 3,588 in Canada, 859 in the United States and 38 in the Gulf  Cooperation Council. More information about the Company is available at  www.timhortons.com.    SOURCE  Tim Hortons  Olga Petrycki: (905) 339-5960 orinvestor_relations@timhortons.com  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/March2014/25/c7043.html  CO: Tim Hortons ST: Ontario NI: RES RET FIN LOAN MNA NEWSTK  
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