The sustainability-linked senior notes are due 2029 and the tender offers are for outstanding notes due 2023 and 2027

Davis Polk advised Arcos Dorados Holdings Inc. (Arcos Dorados) in connection with the offering by its subsidiary Arcos Dorados B.V. of $350 million aggregate principal amount of its 6.125% sustainability-linked senior notes due 2029. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S and are guaranteed by Arcos Dorados and certain of its subsidiaries.

Davis Polk is also advising Arcos Dorados in connection with its concurrent cash tender offers for: (i) any and all of its outstanding 6.625% senior notes due 2023; and (ii) up to $150 million of its 5.875% senior notes due 2027. The concurrent cash tender offers will be funded with the proceeds from the notes offering.

Headquartered in Montevideo, Uruguay, Arcos Dorados is the world’s largest McDonald’s franchisee in terms of system-wide sales and number of restaurants, 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.

The Davis Polk corporate team includes partner Maurice Blanco, counsel Konstantinos Papadopoulos and associate Fatima Carrillo. Partner Patrick E. Sigmon and associates Danielle Rapaccioli and Michael Mirabella are providing tax advice. Counsel Sarah E. Kim provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.

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