ARCO stock slides as Arcos Dorados’ bond buyback deadline nears — what to watch next
Arcos Dorados shares fell nearly 1% to $8.51 in New York trading Wednesday as investors watched a Thursday deadline for early tenders in its $150 million note buyback. The company is offering $1,030 per $1,000 principal for early tenders on its 6.125% notes due 2029. The offer is funded by new bank debt from its Brazilian unit. Investors await further commentary from a Brazil conference.
