Arcos Dorados Announces Pricing of its 5.875% Senior Notes due 2027
September 10 2020 - 9:52PM
Business Wire
Arcos Dorados Holdings Inc. (NYSE: ARCO) (“Arcos Dorados” or the
“Company”) today announced the pricing of U.S.$150,000,000
aggregate principal amount of 5.875% Senior Notes due 2027 to be
issued by the Company (the “New Notes”). The New Notes will be
issued at a price of 102.250% plus accrued interest from April 4,
2020 in the amount of approximately U.S.$26.27 per U.S.$1,000
principal amount of the notes, or an aggregate amount of
U.S.$3,941,145.83. The New Notes mature on April 4, 2027 and will
be guaranteed on a senior unsecured basis by certain of the
Company’s subsidiaries. They constitute an additional issuance of
previously issued US$265,000,000 aggregate principal amount of the
Company’s 5.875% Notes due 2027. The New Notes will be senior
unsecured indebtedness and will rank equal in right of payment with
all of the Company’s and the subsidiary guarantors’ existing and
future senior unsecured indebtedness. The New Notes were offered in
a private placement to qualified institutional buyers in accordance
with Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”), and outside the United States to non-U.S.
persons in accordance with Regulation S under the Securities Act.
The settlement of the New Notes offering is expected to take place
on September 15, 2020, subject to customary closing conditions.
The proceeds from the New Notes offering will be used by the
Company to repay short-term indebtedness and for general corporate
purposes.
This press release is not an offer to sell or a solicitation of
an offer to buy any security.
About Arcos Dorados
Arcos Dorados is the world’s largest independent McDonald’s
franchisee, operating the largest quick service restaurant chain in
Latin America and the Caribbean. It has the exclusive right to own,
operate and grant franchises of McDonald’s restaurants in 20 Latin
American and Caribbean countries and territories with more than
2,200 restaurants, operated by the Company or by its
sub-franchisees, that together employ over 100 thousand people (as
of 06/30/2020). The Company is also committed to the development of
the communities in which it operates, to providing young people
their first formal job opportunities and to utilize its Scale for
Good to achieve a positive environmental impact. Arcos Dorados is
listed for trading on the New York Stock Exchange (NYSE: ARCO).
Cautionary Statement About Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements often are proceeded by words such
as “believes,” “expects,” “may,” “anticipates,” “plans,” “intends,”
“assumes,” “will” or similar expressions. The forward-looking
statements contained herein include statements about the Company’s
New Notes offering and the intended use of proceeds. These
expectations may or may not be realized. Some of these expectations
may be based upon assumptions or judgments that prove to be
incorrect. In addition, Arcos Dorados’ business and operations
involve numerous risks and uncertainties, many of which are beyond
the control of Arcos Dorados, which could result in Arcos Dorados’
expectations not being realized or otherwise materially affect the
financial condition, results of operations and cash flows of Arcos
Dorados. Some of the factors that could cause future results to
materially differ from recent results or those projected in
forward-looking statements are described in Arcos Dorados’ filings
with the United States Securities and Exchange Commission.
The forward-looking statements are made only as of the date
hereof, and Arcos Dorados does not undertake any obligation to (and
expressly disclaims any obligation to) update any forward-looking
statements to reflect events or circumstances after the date such
statements were made, or to reflect the occurrence of unanticipated
events. In light of the risks and uncertainties described above,
and the potential for variation of actual results from the
assumptions on which certain of such forward-looking statements are
based, investors should keep in mind that the results, events or
developments disclosed in any forward-looking statement made in
this document may not occur, and that actual results may vary
materially from those described herein, including those described
as anticipated, expected, targeted, projected or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200910006071/en/
Investor Relations Contact Daniel Schleiniger Vice
President of Investor Relations daniel.schleiniger@ar.mcd.com T:
+54 11 4711 2535
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