September 29, 2009
A September 25 Daily Brief entitled Arcos Clinches Lean Coupon
A September 25 Daily Brief entitled “Arcos Clinches Lean Coupon” incorrectly identifies the leverage of the company. The company’s pro-forma net debt to Ebitda in the 12 months through Q2 2009, including debt from the new bond, is 1.6x, according to a company official. The net debt to Ebitda ratio of 2.5x attributed to Barclays Capital is the incurrence ratio for the issue, not the company.