Linklaters has advised Arcor S.A.I.C. (“Arcor”) in connection with an exchange offer relating to its US$500 million 6.000% Fixed Rate Notes due 2023 (“Existing Notes”) for newly issued 8.250% Notes due 2027 (“New Notes”) plus cash consideration, as applicable.
An aggregate principal amount of US$372.1 million, representing 74.41% of the aggregate principal amount of Existing Notes, were tendered in the exchange offer, and an aggregate principal amount of US$265.4 million of new notes were issued.
Arcor is one of the leading producers of confectionery products and cookies in Latin America as well as one of the largest candy producers globally. The Linklaters team was led by partner Conrado Tenaglia and counsel Alejandro Gordano, alongside counsel Gabriel Grossman (Tax) and associates Juan Mata and Bernard Yi (Tax).
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