Arcos Dorados (ARCO) said Wednesday it started an offer to buy for cash all of its outstanding 5.875% notes due 2027.
The outstanding principal amount on the notes is about $386 million, the company said. The the notes will be purchased for a consideration of $1,000 per outstanding principal amount along with accrued and unpaid interest, the company said.
The tender offer expires on Jan. 23 and is in connection with a potential offering of senior notes issued by an Arcos unit, the company added.
Shares of Arcos were up 1% in recent trading.
Price: 7.47, Change: +0.10, Percent Change: +1.36
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