Davis Polk advised Arcos Dorados Holdings Inc. in connection with the exchange of approximately $131.5 million aggregate principal amount of its 6.625% senior notes due 2023 for its 5.785% senior notes due 2027.
Headquartered in Montevideo, Uruguay, Arcos Dorados is the world's largest McDonald's franchisee, 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 capital markets team included partner Maurice Blanco and associates Hillary A. Coleman, Francisco J. Cespedosa and Ben Somogyi. The tax team included partners William A. Curran and Patrick E. Sigmon and associate Shay Moyal. Members of the Davis Polk team are based in the New York and Madrid offices.