Arcos Dorados Takes Hefty Market Flex

Arcos Dorados Takes Hefty Market Flex

Loans

Arcos Dorados, the holding company for McDonald’s’ LatAm assets, has accepted a sizable increase in its cost of funds for a $350m 5-year facility. The deal, originally launched at Libor plus 275bp, will now include an extra 150bp spread to compensate banks for their rising cost of obtaining capital from other banks. Similar to Braskem, which recently closed a $725m 5-year deal, the borrower was asked by banks to include the additional spread after the deal had been launched. The difference is th

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