<SEC-DOCUMENT>0000950103-20-018015.txt : 20200915
<SEC-HEADER>0000950103-20-018015.hdr.sgml : 20200915
<ACCEPTANCE-DATETIME>20200915163218
ACCESSION NUMBER:		0000950103-20-018015
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200915
FILED AS OF DATE:		20200915
DATE AS OF CHANGE:		20200915

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Arcos Dorados Holdings Inc.
		CENTRAL INDEX KEY:			0001508478
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35129
		FILM NUMBER:		201176325

	BUSINESS ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA 1294, OFFICE 501
		STREET 2:		WTC FREE ZONE
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300
		BUSINESS PHONE:		598 2626-3000

	MAIL ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA 1294, OFFICE 501
		STREET 2:		WTC FREE ZONE
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>dp136621_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM 6-K</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.75pt; text-align: center; text-indent: -4.5pt"><B>REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.75pt; text-align: center; text-indent: -4.5pt">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of September, 2020</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-35129</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 28pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Arcos Dorados Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dr. Luis Bonavita 1294, Office 501 </B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Montevideo, Uruguay, 11300 WTC Free
Zone </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive office)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="2" CELLPADDING="2" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 29%; text-align: center">Form 20-F</TD>
    <TD STYLE="vertical-align: top; width: 14%; border-bottom: black 1pt solid; text-align: center">X</TD>
    <TD STYLE="vertical-align: bottom; width: 15%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 28%; text-align: center">Form 40-F</TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-bottom: black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(1):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="2" CELLPADDING="2" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 29%; text-align: center">Yes</TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 28%; text-align: center">No</TD>
    <TD STYLE="vertical-align: top; width: 14%; border-bottom: black 1pt solid; text-align: center">X</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(7):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="2" CELLPADDING="2" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 29%; text-align: center">Yes</TD>
    <TD STYLE="vertical-align: bottom; width: 14%; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 15%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 28%; text-align: center">No</TD>
    <TD STYLE="vertical-align: top; width: 14%; border-bottom: black 1pt solid; text-align: center">X</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%; border-bottom: black 2.25pt solid">&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARCOS DORADOS HOLDINGS INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM</B></FONT></TD>
    <TD STYLE="width: 91%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="padding-left: 0.1in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release dated September 15, 2020 titled &ldquo;Arcos Dorados
Announces Exchange Offer&rdquo;</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"></FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">
<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: Red"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: Red"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;<B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Arcos Dorados Holdings Inc.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Juan David Bastidas</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Juan David Bastidas</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Legal Counsel</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Date: September 15, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>I<FONT STYLE="font-family: Times New Roman, Times, Serif">tem
1</FONT></B></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">&nbsp;<IMG SRC="image_011.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B><U>FOR IMMEDIATE RELEASE</U></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>Arcos Dorados Announces Exchange Offer
</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Montevideo, Uruguay, September 15, 2020</B> &ndash; Arcos
Dorados Holdings Inc. (the &ldquo;Company&rdquo;) (NYSE: ARCO) announced today that it has commenced an offer to exchange any and
all of the Company&rsquo;s outstanding 6.625% Senior Notes due 2023 (CUSIP/ISIN Nos. G0457FAD9 and USG0457FAD99 (Reg S) and CUSIP/ISIN
Nos. 03965UAB6 and US03965UAB61 (144A)) (the &ldquo;2023 Existing Notes&rdquo;) held by Eligible Holders (as defined below) for
the Company&rsquo;s newly issued US dollar-denominated for 5.875% notes due 2027 (the &ldquo;New Notes&rdquo;) (the &ldquo;Exchange
Offer&rdquo;). The New Notes will be senior unsecured indebtedness and will rank equal in right of payment with all of the Company&rsquo;s
and the subsidiary guarantors&rsquo; existing and future senior unsecured indebtedness. The New Notes constitute an additional
issuance of the Company&rsquo;s previously issued U$415,000,000 aggregate principal amount of 5.875% Notes due 2027. The purpose
of the Exchange Offer is to extend the maturity profile of the Company&rsquo;s debt.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Exchange Offer Deadline</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Exchange Offer will expire at 11:59 PM, New York City time,
on October 13, 2020, unless extended (such time and date, as the same may be extended, the &ldquo;Expiration Date&rdquo;). Eligible
Holders who validly tender 2023 Existing Notes for exchange by 5:00 PM, New York City time, on September 28, 2020, unless extended
(such time and date, as the same may be extended, the &ldquo;Early Participation Date&rdquo;), will receive the Total Exchange
Price (as described below). Eligible Holders who validly tender 2023 Existing Notes for exchange after the Early Participation
Date, but on or prior to the Expiration Date, will receive the Exchange Price (as described below). 2023 Existing Notes tendered
in the Exchange Offer may be withdrawn prior to 5:00 PM, New York City time, on September 28, 2020 (such time and date, as the
same may be extended).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Exchange Offer Consideration</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The following table summarizes the applicable consideration payable
in the Exchange Offer for 2023 Existing Notes validly tendered (and not validly withdrawn) and accepted by the Company:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><IMG SRC="image_012.jpg" ALT="">&nbsp;</P>


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<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 8pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">New
        Notes to be Issued per U.S.$1,000<BR>
        Principal Amount of 2023 Existing Notes<BR>
        Tendered(1)</P>
</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 27%">
<DIV STYLE="padding: 0in 0in 1pt; border-bottom: Black 0.5pt solid">

        <P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">CUSIP/ISIN</P>
        <P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"></P>
        <P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">of 2023 Existing Notes&nbsp;</P>
</DIV></TD>
    <TD STYLE="width: 8%">
        <P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">Coupon
        of<BR>
        2023 Existing Notes</P>
</TD>
    <TD STYLE="width: 11%">
        <P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">Maturity<BR>
        Date of<BR>
        2023 Existing Notes</P>
</TD>
    <TD STYLE="width: 16%">
        <P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">Aggregate<BR>
        Principal<BR>
        Amount<BR>
        Outstanding</P>
</TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">Title
        of New<BR>
        Notes to be Issued</P>
</TD>
    <TD STYLE="width: 12%">
        <P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">Total
        Exchange<BR>
        Price if<BR>
        Tendered Prior<BR>
        to or on the<BR>
        Early Participation<BR>
        Date (the &ldquo;Total Exchange Price&rdquo;)</P>
</TD>
    <TD STYLE="width: 12%">
        <P STYLE="font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">Exchange<BR>
        Price if<BR>
        Tendered<BR>
        After the<BR>
        Early Participation<BR>
        Date (the &ldquo;Exchange Price&rdquo;)</P>
</TD></TR>
<TR>
    <TD STYLE="text-indent: 0in; font-size: 8pt">03965UAB6 / US03965UAB61 (Rule 144A)</TD>
    <TD ROWSPAN="2" STYLE="font-size: 8pt; text-align: center">6.625%</TD>
    <TD ROWSPAN="2" STYLE="font-size: 8pt; text-align: center">09/27/2023</TD>
    <TD ROWSPAN="2" STYLE="font-size: 8pt; text-align: center">U.S$3<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">48,069,000</FONT></TD>
    <TD ROWSPAN="2" STYLE="font-size: 8pt">5.875% Senior Notes due 2027</TD>
    <TD ROWSPAN="2" STYLE="text-align: center; font-size: 8pt">U.S.$<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,055.00</FONT></TD>
    <TD ROWSPAN="2" STYLE="text-align: center; font-size: 8pt">U.S.$1,005.00</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0in; font-size: 8pt">G0457FAD9 / USG0457FAD99 (Reg. S)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Exchange Price is an amount equal to the Total Exchange Price
less the Early Participation Payment. The &ldquo;Early Participation Payment&rdquo; is equal to US$50.00 and is payable in New
Notes. Cash in lieu of any fractional portion less than US$1,000.00 principal amount of a New Note issued due to rounding will
be paid on the settlement date based on the Total Exchange Price or the Exchange Price, as the case may be.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Eligible Holders of 2023 Existing Notes properly tendered in
the Exchange Offer (and not validly withdrawn) will be entitled to receive a cash payment equal to the accrued and unpaid interest
on their 2023 Existing Notes accepted for exchange from the last applicable interest payment date up to but excluding the settlement
date, less the accrued and unpaid interest on the New Notes from October 4, 2020 to the settlement date.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Further Information</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Exchange Offer is being made only to holders of 2023 Existing
Notes who have properly completed, executed and delivered to the information and exchange agent an eligibility letter, whereby
such holder has represented to the Company that it is (i) a &ldquo;qualified institutional buyer,&rdquo; or &ldquo;QIB,&rdquo;
as defined in Rule 144A under the Securities Act and under applicable state securities laws; or (ii) a &ldquo;non-US Person&rdquo;
(as defined in Regulation S under the Securities Act) (the &ldquo;Eligible Holders&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Promptly following the Expiration Date, the Company will accept
for exchange for the New Notes any and all validly tendered 2023 Existing Notes not previously withdrawn, subject to the terms
and conditions of the Exchange Offer.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>The New Notes have not been and will not be registered under
the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements.&nbsp;The New Notes are being issued only to Eligible Holders.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Global Bondholder Services Corporation has been appointed as
the information and exchange agent for the Exchange Offer. Holders may contact the information and exchange agent to request the
eligibility letter. Banks and brokers call: 212-430-3774. All others call toll free: (866) 470-3900. Email: <FONT STYLE="color: Blue"><U>contact@gbsc-usa.com</U></FONT>.
Alternatively, the Eligible Holders may execute the eligibility letter online at the following link: <FONT STYLE="color: Blue"><U>https://gbsc-usa.com/eligibility/arco</U></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">This press release is not an offer to sell or a solicitation
of an offer to buy any security. The Exchange Offer is being made solely by the Exchange Offer Memorandum and only to such persons
and in such jurisdictions as are permitted under applicable law.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3in; text-indent: 0.5in">*****</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Investor Relations Contact</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Daniel Schleiniger</B>&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Vice President of Investor Relations</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">daniel.schleiniger@ar.mcd.com&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">T: +54 11 4711 2535</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>About Arcos Dorados</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Arcos Dorados is the world&rsquo;s largest independent McDonald&rsquo;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&rsquo;s restaurants in 20 Latin American and Caribbean countries and territories
with more than 2,200 restaurants, operated by the Company or by its sub-franchisees, that together employ over 100 thousand people
(as of 06/30/2020). The Company is also committed to the development of the communities in which it operates, to providing young
people their first formal job opportunities and to utilize its Scale for Good to achieve a positive environmental impact. Arcos
Dorados is listed for trading on the New York Stock Exchange (NYSE: ARCO).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Cautionary Statement About Forward-Looking Statements </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are proceeded by words such
as &ldquo;believes,&rdquo; &ldquo;expects,&rdquo; &ldquo;may,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;plans,&rdquo; &ldquo;intends,&rdquo;
&ldquo;assumes,&rdquo; &ldquo;will&rdquo; or similar expressions. The forward-looking statements contained herein include statements
about the Exchange Offer. These expectations may or may not be realized. Some of these expectations may be based upon assumptions
or judgments that prove to be incorrect. In addition, Arcos Dorados&rsquo; business and operations involve numerous risks and uncertainties,
many of which are beyond the control of Arcos Dorados, which could result in Arcos Dorados&rsquo; expectations not being realized
or otherwise materially affect the financial condition, results of operations and cash flows of Arcos Dorados. Some of the factors
that could cause future results to materially differ from recent results or those projected in forward-looking statements are described
in Arcos Dorados&rsquo; filings with the United States Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The forward-looking statements are made only as of the date hereof,
and Arcos Dorados does not undertake any obligation to (and expressly disclaims any obligation to) update any forward-looking statements
to reflect events or circumstances after the date such statements were made, or to reflect the occurrence of unanticipated events.
In light of the risks and uncertainties described above, and the potential for variation of actual results from the assumptions
on which certain of such forward-looking statements are based, investors should keep in mind that the results, events or developments
disclosed in any forward-looking statement made in this document may not occur, and that actual results may vary materially from
those described herein, including those described as anticipated, expected, targeted, projected or otherwise.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

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