Arcos Dorados Holdings Inc.
For the period ended Dec 31, 2025. Filed Mar 19, 2026.
View on SEC.govAbout this filing
What a company based outside the US has published at home or sent to its shareholders. It is how many foreign companies share results and news between annual reports.
Dec 31, 2025 · Filed Mar 19, 2026
Use the contents to explore the available documents and sections.
Contents
2029 Notes
In April, 2022, the Company’s subsidiary ADBV issued sustainability-linked Senior Notes for an aggregate principal amount of $350 million which mature in 2029 (the “2029 Notes”). Interest on the notes accrues at a rate of 6.125% per annum from April 27, 2022 and, from and including May 27, 2026, the interest rate payable on the 2029 Notes may increase to 6.250% per annum or 6.375% per annum if either or both Sustainability Performance Targets (SPT), respectively, have not been satisfied by December 31, 2025. The SPT to be satisfied are:
(i) Reductions of greenhouse gas emissions by 15% in restaurants and offices.
(ii) Reductions of greenhouse gas emissions by 10% in supply chain.
Periodic payments of principal are not required and interest is paid semi-annually commencing on November 27, 2022. The 2029 Notes are guaranteed on a senior unsecured basis by the Company and certain of its subsidiaries. The proceeds from 2029 Notes were mainly used by the Company to fund the tender offers for 2023 and 2027 Notes and the redemption of the 2023 Notes that was effected during 2022. The Company capitalized as DFC $2,651 of financing costs related to the issuance of 2029 Notes, which are being amortized over the life of the notes.
In September 2025, ADBV sold certain 2029 Notes that it had repurchased during 2022 and 2023, representing an aggregate principal amount of $15,800, for a total of $16,156 plus accrued and unpaid interest.
The following table summarizes the activity of 2029 Notes as of December 31, 2025:
| Transaction | Date | Principal Amount | Average Price | Total (payment) / collection (i) |
|---|---|---|---|---|
| Issuance | April 27, 2022 | $350,000 | — | $— |
| Open market repurchases | During 2022 | $(12,800) | 93.87% | $(12,015) |
| Open market repurchases | During 2023 | $(3,000) | 93.76% | $(2,813) |
| Sale | During 2025 | $15,800 | 102.25% | $16,156 |
| Principal amount of 2029 Notes as of December 31, 2025: | $350,000 | |||
(i) Not including accrued and unpaid interest
On January 30, 2026, the Company announced the commencement of an offer to purchase for cash up to $150 million of its outstanding 2029 Notes, which resulted in the redemption on February 17, 2026 of 38.51% of the outstanding principal, for a total amount of $134,796 plus accrued and unpaid interest. Additionally, on March 4, 2026, the Company redeemed $400 plus accrued and unpaid interest upon settlement of the tender offer previously mentioned.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.