Arcos Dorados receives early tenders for $45.30 million 6 5/8% notes

New York, March 30 – Arcos Dorados Holdings Inc. received tenders for $45,298,000 of its $393,767,000 of outstanding 6 5/8% senior notes due 2023 by the early tender deadline, according to a news release.

The offer continues until 11:59 p.m. ET on April 12.

Arcos Dorados announced on March 16 that it was tendering for up to $80 million of the notes.

It 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 tendered by the early deadline of 5 p.m. ET on March 29.

Arcos Dorados will also pay accrued interest.

The offer is subject to conditions including the receipt of proceeds from an expected senior note offering. The company announced Thursday that it had priced $265 million of new notes.

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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