Arcos Dorados LM happy meal brings in two-thirds
Latin American McDonald’s franchisee Arcos Dorados will retire $208.833m of its 7.5% senior notes due 2019, or 67.67% of the outstanding amount, after the closure of a tender offer for the bonds.
Some $118.366m of the bonds were tendered in exchange for cash, funded by Arcos’s new 6.625% 2023 senior notes, of which $375m were issued on September 24.
And investors holding a further $90.467m of the 2019s offered to exchange their existing bonds for the new 2023s.
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