Arcos Raises $1bn In FO Despite Weak Markets

Arcos Raises $1bn In FO Despite Weak Markets

Argentina Brazil Equity

Arcos Dorados managed to generate decent demand for a $976.8m equity follow-on Wednesday despite what was a down day in most equity markets. The LatAm McDonald's operator sold 44.4m shares, assuming exercise of a 10% greenshoe, at $22.00 each, representing a 2.82% discount to Wednesday's $22.64 closing price. The transaction was heard to be between 2-3x subscribed, and saw participation from over 200 accounts, 25% of which were new investors to the company. The deal builds on Arcos' $1.25bn Apri

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