Tim Hortons prices C$100 million in notes: term sheet

Thu Nov 25, 2010 1:46pm EST
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TORONTO (Reuters) - Tim Hortons Inc, Canada's largest restaurant chain, has priced a C$100 million ($99 million) offering of senior unsecured notes, according to a term sheet seen by Reuters.

The term sheet said the Oakville, Ontario-based company has priced the 4.2 percent note due June 1, 2017 at C$102.273 to yield 3.802 percent, or 104 basis points over the Canadian government yield curve.

The offering is a reopening of a note issued earlier this year and brings the total amount outstanding to C$300 million.

($1=$1.01 Canadian)

(Reporting by Jeffrey Hodgson; editing by Peter Galloway)