27 04 2016Arcos Dourados secures $167 million Loan
Pinheiro Neto Advogados, Davis Polk & Wardwell, Maples and Calder, Machado, Meyer, Sendacz e Opice Advogados, Milbank and Guyer & Regules have advised on the transaction
Arcos Dorados Holdings, Inc. is a franchisee for an American fast-food burger restaurant. The Company, led by Woods W Staton, Sergio Alonso, Jose Carlos Alcantara, Marcelo Rabach and Juan David Bastidas, has the right to own, operate and grant franchises of restaurants in South and Central America and the Caribbean.
The loan was secured by a fiduciary assignment of credit card receivables from McDonald's Brazilian restaurants as well as the swap receivables from the derivatives transactions.
Arcos Dourados' parent companies, which are based in the British Virgin Islands and Uruguay, acted as guarantors. The derivatives are also backstopped by credit card receivables and guaranteed by promissory notes issued by the borrower and its parent companies.
JP Morgan Chase Bank, Itau International, Bank of America and Banco Santander Brasil (Cayman branch) has provided the Loan Facility.
Banco Citibank, ItaĂș Unibanco, Banco JP Morgan, Bank of America Merrill Lynch, Banco MĂșltiplo, Banco Santander Brasil and ItaĂș Unibanco acted on the derivatives transaction. Pinheiro Neto Advogados has advised Arcos Dorados with a team led by Caio Ferreira SilvaÂ and including Caroline Queiroz andÂ Rodrigo Vieira. Davis Polk & Wardwell LLP represented Arcos Dorados with a team led by Maurice Blanco (Picture) and including James Vickers. Maples and Calder representedÂ Arcos Dorados with Kieran Walsh, Ruairi Bourke and Guy Williamson. Machado, Meyer, Sendacz e Opice Advogados represented Citibank, JP Morgan Chase Bank, Itau International, Bank of America and Banco Santander Brasil (Cayman branch), ItaĂș Unibanco, Banco JP Morgan, Bank of America Merrill Lynch, Banco MĂșltiplo, Banco Santander Brasil and ItaĂș Unibanco with Nei Zelmanovits Rafael Carretero and Fernanda Savino on the loan agreement. Â Milbank, Tweed, Hadley & McCloy LLP represented the banks withÂ Carlos AlbarracĂn and Rodrigo Carvalho. Guyer & Regules has advised the banks withÂ Florencia Castagnola and Sofia Anza. Â Â Involved fees earner: Caio Ferreira Silva - Pinheiro Neto; Rodrigo de Almeida Manso Vieira - Pinheiro Neto; Carolina Queiroz Pereira Dantas de Melo - Pinheiro Neto; Maurice Blanco - Davis Polk & Wardwell; James Vickers - Davis Polk & Wardwell; Florencia Castagnola - Guyer & Regules; MarĂa SofĂa Anza - Guyer & Regules; Kieran Walsh - Maples and Calder LLP; Ruairi Bourke - Maples and Calder LLP; Guy Williamson - Maples and Calder LLP; Nei Zelmanovits - Machado, Meyer, Sendacz e Opice Advogados; Rafael Carretero - Machado, Meyer, Sendacz e Opice Advogados; Fernanda Cristina Savino - Machado Associados; Carlos AlbarracĂn - Milbank; Rodrigo Carvalho - Milbank;
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