Arcos Dorados Plans Tender, New Bond

Arcos Dorados Plans Tender, New Bond

Brazil Bonds

Arcos Dorados has launched a tender and exchange offer targeting any and all of its 7.500% 2019 bonds, it says, to be funded by a newly issued 6.625% 2023 bonds. The world’s largest McDonald’s franchisee is offering holders $1,092.50 per $1,000.00 principal through a September 23 early deadline, and $1,062.50 per $1,000.00 by the final October 7 deadline. Holders may exchange for cash or for new 2023 bonds. The new notes will be senior unsecured indebtedness and will rank equally with all of the

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