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Argentina’s Arcos Dorados plans to exchange 6 5/8% notes due 2023 for new notes
By Rebecca Melvin
New York, Sept. 8 – Arcos Dorados Holdings Inc. plans to begin an exchange offer to exchange any and all of its existing $348,069,000 of 6 5/8% notes due 2023 for additional 5 7/8% notes due 2027, according to a company news release on Tuesday.
The company is concurrently planning to add on to its previously issued $265 million 5 7/8% senior notes due 2027.
The Rule 144A and Regulation S deal remains subject to market conditions and other factors, the company said, and the exchange is not contingent on the tap issue.
Buenos Aires-based Arcos Dorados is the world’s largest McDonald’s franchisee.
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