Loan & DebtJul 7, 2026, 04:07 PM
Tims China Completes $15.8M First Tranche of Convertible Notes
AI Summary
TH International Limited (Tims China) announced the completion of the issuance of the first tranche of its Senior Secured Convertible Notes due 2029. The principal amount for this tranche was US$15,623,304.00, with total proceeds, including accrued interest, reaching US$15.8 million. These notes were issued to Tim Hortons Restaurants International GmbH and will be consolidated with the company's existing convertible notes. Tims China anticipates issuing three additional tranches, with the final one expected in the first quarter of 2027.
Key Highlights
- TH International Ltd completed the issuance of the first tranche of Senior Secured Convertible Notes.
- The principal amount of the notes issued was US$15,623,304.00.
- Total proceeds, including accrued interest, for this tranche amounted to US$15.8 million.
- The notes were issued to Tim Hortons Restaurants International GmbH.
- The Senior Secured Convertible Notes are due in 2029.
- The first tranche consolidates and ranks pari passu with existing floating rate senior secured convertible notes.
- The company expects to issue three more tranches, with the final one by Q1 2027.
Price Impact
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