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International bonds: Arcos Dorados Holdings, 6.63% 27sep2023, USD (USG0457FAD99, G0457FAD9)

StatusCountry of riskMaturity (option)
Amount i
This field shows outstanding face value amount for outstanding bonds
Issue ratings (M/S&P/F)
outstandingUruguay**/**/****393,767,000 USD***/***/***
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Issue information

BorrowerArcos Dorados Holdings
Bond typeCoupon bonds
Form of issueRegistered documentary bonds
Placement methodOpen subscription
Placement typePrivate
Issue purposeShow
Issue purpose
We expect to receive net proceeds of approximately U.S.$374.8 million from the sale of the notes in this offering, after deducting estimated fees, commissions and expenses relating to this offering and the concurrent Tender and Exchange Offers of U.S.$3.6 million. The company intends to apply the net proceeds of this offering (i) to pay an estimated U.S.$128.1 million of principal and premium on the 2019 Existing Notes in connection with the concurrent Tender Offer (which amount excludes accrued interest and cash in lieu of fractional bonds), (ii) to repay certain of our short-term indebtedness with Banco Itau BBA S.A. with an annual interest rate of 2.30%, amounting to approximately U.S.$60.0 million, (iii) to unwind our cross-currency interest rate swap with Bank of America, N.A. in an estimated amount of U.S.$12.0 million and (iv) for general corporate purposes (including possible capital expenditures depending on cash availability at year-end as well as the repayment of certain other indebtedness). See “Plan of Distribution.” 23 CAPITALIZATION The table below sets forth our capitalization (defined as short-term debt, long-term debt, derivative instruments and equity) as of June 30, 2013 derived from our condensed consolidated financial statements prepared in accordance with U.S. GAAP: • on an actual basis; • as adjusted to give effect to the subsequent events that occurred in July 2013 that are disclosed in Note 14 to our unaudited condensed consolidated financial statements incorporated by reference in this offering memorandum from our report on Form 6-K dated August 6, 2013, as well as the prepayment of a short- term loan as discussed in the footnote to the table below; and • as further adjusted to give effect to the issuance of the notes offered hereby, the Tender Offer, the exchange of the 2019 Existing Notes tendered through the Early Exchange Date for the notes offered hereby and the use of proceeds as described in “Use of Proceeds,” assuming gross proceeds from the sale of the notes in this offering o
Par amount, integral multiple1,000 USD
Nominal of international bonds1,000 USD
Minimum settlement amount100,000 USD
Outstanding principal amount100,000 USD
Amount473,767,000 USD
Amount Outstanding393,767,000 USD
Outstanding face value amount393,767,000 USD
Placement date**/**/****
Maturity date**/**/****
Redemption price100%
Floating rateNo
Coupon Rate*.***%
Current coupon rate6.625%
Day count fraction***
ACI*** (10/14/2019)
Coupon frequency2 time(s) per year
Interest accrual date**/**/****
Trading floor, trading codeBCBA (trades settled in ARS in Argentina), ARCOS2023
ListingLuxembourg S.E.

Related issues

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Cbonds Valuation
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology. The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
:

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
CBONDS ESTIMATION
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology described here http://ru.cbonds.com/organizations/docdownload/8715.
The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
Quotes are published both anonymously and publicly in the section Bond Quotes by Market Participants: http://cbonds.com/quotes/market/. These quotes are indicative only. Organizations posting the quotes have no obligations to conduct transactions at these prices. To learn the actual current prices, you need to contact the respective organization. Trading floor quotes are available at http://cbonds.com/quotes/.
10/11/2019*** / *** (*** / ***)*** (***)******Archive
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Bond Quotes by Market Participants

Market participantDate and timeBid/ask or last price
(Yield)
Zurich Cantonal Bank10/11/2019***.** / ***.**
(*.** / *.**)
Anonymous participant 2010/11/2019***.**
(*.**)
BCP Securities10/11/2019***.** / ***.*
(*.** / *.**)
UCAP Asset Management10/07/2019***.**** / ***.***
(*.* / *.**)
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Stock exchange and OTC quotes

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
FRANKFURT S.E.10/11/2019*** / *** (*** / ***)*** (***)******Archive
STUTTGART EXCHANGE10/11/2019*** / *** (*** / ***)*** (***)******Archive
LUXEMBOURG S.E.10/11/2019*** / *** (*** / ***)*** (***)******Archive
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Bond classification

Subordinated
Sinkable bond
Perpetual
Convertible
Structured product
Restructuring
Securitization
Mortgage bonds
Trace-eligible
Covered
Foreign bonds
CDO
Sukuk
Retail bonds
Supranational bond issues
Green bonds
Non-Marketable Securities

Identifiers

ISIN / ISIN RegSUSG0457FAD99
ISIN 144AUS03965UAB61
CUSIP / CUSIP RegSG0457FAD9
Common Code / Common Code RegS097584737
Common Code 144A097602204
CUSIP 144A03965UAB6
CFI / CFI RegSDBFUGR
CFI 144ADBFUGR
FIGI / FIGI RegSBBG005BPGTX3
WKN / WKN RegSA1HRN0
WKN 144AA1HRN4
SEDOLBF56BC6
FIGI 144ABBG005BPGTQ1
TickerARCO 6.625 09/27/23 REGS

Primary placement

Issuer rating on issue date (M/S&P/F)***/***/***
Placement**/**/****
Initial issue price (yield)***.***% (*.**%)
Spread over US Treasuries, bp***.*
Settlement Duration*.**

Participants

Bookrunner: Bank of America Merrill Lynch, Exch/Restr.
Paying agent: Citibank N.A.
Depository: Clearstream Banking S.A., Euroclear Bank
Additional information
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Payment schedule

*****

Coupon dateCoupon, %Coupon payment amount, USDRedemption of principal, USD
Show previous
1**/**/*****.****,***.*
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18**/**/*****.****,***.*
19**/**/*****.****,***.*
20**/**/*****.****,***.****,***
Show following
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Early redemption terms

*****

DateOption typeOption styleBenchmark spread, b.p.Until datePriceRepurchased amount at par, mln
Show previous
**/**/****callMake-Whole Call****/**/****
**/**/****debt repurchase****
Show following
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Issue ratings

Arcos Dorados Holdings, 6.63% 27sep2023, USD

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (foreign curr.)04/30/2019
Moody's Investors Service ***/***LT- local currency01/15/2019
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Issuer ratings

Arcos Dorados Holdings

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (foreign curr.)04/30/2019
Fix Scr - affiliate of Fitch***/***LT foreign currency rating07/05/2017
Moody's Investors Service ***/***LT- local currency01/15/2019
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Consolidated IFRS reports

year 1 Q 2 Q 3 Q 4 Q
2019
0.85 M eng
2018
0.69 M eng
0.72 M eng
0.72 M eng
0.39 M eng
2017
0.71 M eng
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