ARCO - Arcos Dorados to issue sustainability-linked senior notes in a private placement
Arcos Dorados Holdings (NYSE:ARCO) announced that its subsidiary Arcos Dorados B.V. to offer senior unsecured notes in a private placement. The notes will 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. Pricing and terms of the notes have yet to be determined. The proceeds from the notes will be used to fund the tender offers conducted by the company to purchase for cash any and all of its $201.763M of its 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. Shares up 2% premarket.
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Arcos Dorados to issue sustainability-linked senior notes in a private placement