Arcos Dorados Announces Pricing of Its 6.125% Sustainability-Linked Senior Notes Due 2029
22 Avril 2022 - 3:21AM
Business Wire
Arcos Dorados Holdings Inc. (NYSE: ARCO) (“Arcos Dorados” or the
“Company”) today announced the pricing of U.S.$350,000,000
aggregate principal amount of 6.125% Sustainability-Linked Senior
Notes due 2029 (the “New Notes”) to be issued by its subsidiary
Arcos Dorados B.V. (the “Issuer”). The New Notes will be issued at
a price of 99.991%. The New Notes mature on May 27, 2029 and will
be guaranteed on a senior unsecured basis by the Company and
certain of the Company’s subsidiaries. The Notes include
Sustainability Performance Targets associated with the Company’s
commitments to reduce greenhouse gas emissions by 36% in its
restaurants and offices and by 31% in its supply chain by 2030. 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 April 27, 2022, subject
to customary closing conditions.
The proceeds from the Notes offering will be used by the Issuer:
(i) to fund the tender offers conducted by the Company to purchase
for cash (a) any and all of its U.S.$201,763,000 properly tendered
(and not validly withdrawn) outstanding 6.625% senior notes due
2023, and (b) up to U.S.$150,000,000 aggregate principal amount of
its properly tendered (and not validly withdrawn) outstanding
5.875% senior notes due 2027; and (ii) for general corporate
purposes.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor will there be
any sale of these securities, in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any
state or jurisdiction. The Notes and related guarantees have not
been registered under the Securities Act, or any applicable state
securities laws, and will be offered only to qualified
institutional buyers pursuant to Rule 144A promulgated under the
Securities Act and outside the United States to non-U.S. persons in
accordance with Regulation S under the Securities Act. Unless so
registered, the Notes and related guarantees may not be offered or
sold in the United States except pursuant to an exemption from the
registration requirements of the Securities Act and any applicable
state securities laws.
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
2,250 restaurants, operated by the Company or by its
sub-franchisees, that together employ over 90 thousand people (as
of 12/31/2021). 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 Recipe for
the Future to achieve a positive environmental impact. Arcos
Dorados is listed for trading on the New York Stock Exchange (NYSE:
ARCO). To learn more about the Company, please visit the Investors
section of our website: www.arcosdorados.com/ir.
Cautionary Statement on 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
Notes offering and its intended use of proceeds therefrom. 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/20220421006216/en/
Investor Relations Contact Dan Schleiniger VP of Investor
Relations Arcos Dorados daniel.schleiniger@ar.mcd.com
Media Contact David Grinberg VP of Corporate
Communications Arcos Dorados david.grinberg@mcd.com.uy
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