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Arcos Dorados tenders for its 10¼% real-denominated notes due 2016
New York, April 8 – Arcos Dorados Holdings Inc. announced a tender offer for its R$626,781,000 of real-denominated 10¼% senior notes due 2016.
The company is offering to pay R$1,000 per R$1,000 principal amount for the notes, according to a news release.
Included in the total is an early tender premium of R$30.00 per R$1,000 that will only be paid to holders who tender by the early deadline of 5 p.m. ET on April 21.
Arcos Dorados will also pay accrued interest.
The tender ends at 11:59 p.m. ET on May 5.
All payments will be made in dollars.
The offer is subject to conditions including that the company has sufficient funds available in dollars to purchase tendered notes.
Citigroup Global Markets Inc. (212 723-6106 or 800 558-3745) and Itau BBA USA Securities, Inc. (212 710-6749 or 888 770-4828) are dealer managers. D. F. King & Co., Inc. (212 269-5550, 866 796-6867 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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