A&O Shearman Advises Restaurant Brands International on Financing for Tim Hortons China

A&O Shearman advised Restaurant Brands International (RBI), through its wholly owned indirect subsidiary Tim Hortons Restaurants International GmbH, on a strategic financing transaction involving TH International Limited (Nasdaq: THCH), the parent company of the exclusive master franchisee of Tim Hortons restaurants in China. Tims China issued USD 89.9 million floating rate convertible senior secured notes due 2029 (the Senior Secured Notes) under a New York law‑governed indenture. The notes have been listed on the Singapore Exchange (SGX). The financing required coordination across multiple jurisdictions and leveraged A&O Shearman’s global capabilities and market experience to achieve seamless execution under a complex structure within a compressed timeframe. RBI, one of the world’s largest quick‑service restaurant companies with over 32,000 restaurants in more than 120 countries and territories and nearly USD 45 billion in annual system‑wide sales, was at the centre of the transaction. "This transaction reflects the strength of the private capital markets in responding to dynamic financing needs," said Rishi Hindocha, Partner. A&O Shearman represented Restaurant Brands International (RBI), through Tim Hortons Restaurants International GmbH, in connection with the transaction, with a team composed by: Rishi Hindocha (Partner, Singapore); Benjamin Foo (Senior Associate, Singapore); Kyungwon (Won) Lee (Partner, Hong Kong SAR); Hae‑Ran Song (Of Counsel, Hong Kong SAR); Tsui Miu (Viola) Jing (Partner, Hong Kong SAR); Tiffany Tam (Senior Associate, Hong Kong SAR).

A&O Shearman Advises Restaurant Brands International on Financing for Tim Hortons China

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads