Arcos Dorados Holdings (ARCO) said Thursday it extended the expiration deadline of its cash tender offer for any and all of its outstanding 5.875% notes due 2027.

The offer will expire at 5 pm ET on Jan. 23 instead of the previously scheduled expiration of 8 am ET on that day, the company said.

Arcos Dorados said that as of 8 am ET on Jan. 23, about $130.1 million of the notes have been validly tendered and not withdrawn under the offer, which is being made in connection with a potential offering of senior notes to be issued by a subsidiary.

Shares of Arcos Dorados were down nearly 1% in recent trading.

Price: 7.27, Change: -0.07, Percent Change: -0.89