Arcos Dorados plans to offer sustainability-linked senior notes

By Marisa Wong

Los Angeles, April 18 – Arcos Dorados Holdings Inc. announced that subsidiary Arcos Dorados BV intends to offer senior notes (//BB) in a private placement.

The Rule 144A and Regulation S notes are expected to be guaranteed by the parent company and some of its subsidiaries, according to a press release.

The notes will include sustainability performance targets associated with the company’s commitments to reduce greenhouse gas emissions by 36% in its restaurants and offices and by 31% in its supply chain by 2030.

Timing of pricing and terms of the notes are subject to market conditions and other factors, the company noted.

Proceeds will be used to fund tender offers to purchase for cash any and all of the company’s $201,763,000 outstanding 6 5/8% senior notes due 2023 and up to $150 million of its 5 7/8% senior notes due 2027 as well as for general corporate purposes.

Montevideo, Uruguay-based Arcos Dorados is a McDonald’s franchisee operating in Latin America and the Caribbean.

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