ARCO - Arcos Dorados prices 6.125% sustainability-linked senior notes due 2029
Arcos Dorados Holdings (NYSE:ARCO) has priced $350M of 6.125% sustainability-linked senior unsecured notes due May 27, 2029 to be issued by its subsidiary Arcos Dorados B.V. at 99.991% of the principal amount. 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. Offering is expected to close on April 27, 2022. The proceeds will be used by the Issuer to fund the tender offers conducted by the company to purchase for cash any and all of its $201.763M properly tendered outstanding 6.625% senior notes due 2023, and up to $150M of its properly tendered outstanding 5.875% senior notes due 2027 and for general corporate purposes.
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Arcos Dorados prices 6.125% sustainability-linked senior notes due 2029