Arcos Dorados moves to pay down debt

Arcos Dorados moves to pay down debt

Bonds Debt Fixed Income Corporate & Sovereign Strategy Capital Markets Latin America Caribbean Uruguay

Arcos Dorados, the Uruguay-based franchiser of McDonald’s restaurants in Latin America and the Caribbean, said Monday that it plans to redeem $123 million worth of 6.625% 2023 bonds. The Montevideo-based franchiser has offered to pay face value for the outstanding bonds and also cover remaining interest payments with a sweetener of 50 basis points over US Treasury notes. It expects to redeem the notes on June 10, it said in a statement on Monday. Arcos Dorados did not say how it will pay for the

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