Arcos Dorados rings up retap

Arcos Dorados rings up retap

Bonds Debt Capital Markets Fixed Income Uruguay Latin America United States

Arcos Dorados, a Uruguay-based company that operates and grants franchises for McDonald's restaurants in Latin America and the Caribbean, said it plans to tap its 5.875% 2027 notes to raise money to pay off short-term debt. The company could add up to $150 million to the 2027 notes, according to a report by Fitch Ratings, and swap them for outstanding 6.625% 2023 notes. Fitch gave the upcoming tap a BB rating with a negative outlook, in line with Arcos Dorados' long-term ratings, it said in the

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