Davis Polk advised Arcos Dorados Holdings Inc. (“Arcos Dorados”) in connection with the offering of $265 million aggregate principal amount of its 5.875% senior notes due 2027. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S and are guaranteed by certain subsidiaries of Arcos Dorados.

Davis Polk is also advising Arcos Dorados in connection with its concurrent cash tender offer for up to $80 million of its 6.625% senior notes due 2023. The concurrent cash tender offer 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 and associate Hillary A. Coleman. Partner Rachel D. Kleinberg and associate M. Brett Cameron are providing tax advice. Partner Gregory S. Rowland, counsel Sarah E. Kim and associate Preeti Krishnan provided 1940 Act advice. Members of the Davis Polk team are based in the New York and Northern California offices.

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