United States: Milbank Represents Underwriters in US$978 Million Arcos Dorados' Follow-On Equity Offering
Last Updated: November 4 2011

NEW YORK, October 28, 2011 International law firm Milbank, Tweed, Hadley & McCloy, LLP, led by Global Securities partners Marcelo Mottesi and Paul Denaro, represented Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Itau BBA USA Securities Inc. and Credit Suisse Securities (USA) LLC, as underwriters in the follow-on sale of shares of Arcos Dorados Holdings Inc. ("Arcos Dorados"). The underwriters fully exercised their over-allotment option to purchase a total of 44,475,958 shares from the selling shareholders raising US$978 million.

Arcos Dorados is the world's largest McDonald's franchisee with more than 1,700 restaurants throughout Latin America. The company achieved revenues of US$3.0 billion during 2010, with Adjusted EBITA of US$299 million. Arcos Dorados restaurants represented 5.1% of McDonald's global sales in 2010.

"Milbank is pleased to be involved in this high-profile transaction which underscores Arcos Dorados continued growth and profitability track for 2011," commented Mr. Denaro.

Additional attorneys on the Milbank team included associates Matt Squires, Matt Vidal and Elizabeth Rosado.

Milbank also served as Underwriters counsel in the Arcos Dorados private placement of R$400 million (US$255 million) Brazilian-real-denominated notes in July 2011, as well as the Arcos Dorados US$1.25 billion IPO in April 2011 and US$450 million debt issuance in 2009.

About Milbank

Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm providing innovative legal solutions to clients throughout the world for more than 140 years. Milbank is headquartered in New York and has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, Sao Paulo, Singapore, Tokyo and Washington, DC.

The firm's lawyers provide a full range of legal services to the world's leading commercial, financial and industrial enterprises, as well as to institutions, individuals and governments. Milbank's lawyers meet the needs of our clients by offering a highly integrated and collaborative range of services across key practice groups throughout our global network. Milbank's integrated practice is underpinned by our attorneys acknowledged technical excellence, sectoral expertise and a strong tradition of innovation and client service.

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