September 10, 2020
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
McDonald's franchiser could add up to $150 mln to its 2027 notes to pay off short-term debt