Arcos Dorados tenders for up to $80 million of 6 5/8% notes due 2023

By Tali Rackner

Norfolk, Va., March 16 – Arcos Dorados Holdings Inc. began a tender offer for up to $80 million of its $393,767,000 outstanding 6 5/8% senior notes due 2023.

The company is offering to pay $1,070 per $1,000 principal amount for the notes, according to a news release.

Included in the total is an early tender premium of $30 per $1,000 that will be paid only to holders who tender by the early deadline of 5 p.m. ET on March 29.

Arcos Dorados will also pay accrued interest.

The tender ends at 11:59 p.m. ET on April 12.

The offer is subject to conditions including the receipt of proceeds from an expected senior note offering.

Citigroup Global Markets Inc. (212 723-6106 or 800 558-3745) and J.P. Morgan Securities LLC (212 834-7279 or 866 846-2874) are the dealer managers. D. F. King & Co., Inc. (212 269-5550, 877 864-5060 or arcosdorados@dfking.com) is the information and tender agent.

Arcos Dorados is a Montevideo, Uruguay-based franchisee of McDonald’s restaurants.

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