Estudio Beccar Varela advises INVAP S.E. on the issuance of Class III notes.
November, 2015 - Buenos Aires, Argentina
Estudio Beccar Varela advised INVAP S.E. on the issuance of Class III notes, issued under the company’s Global Program for short, medium and long term notes for a maximum nominal value of up to US$50 million (or its equivalent in other currencies). The notes were issued at a nominal value of AR$200 million on October 21, 2015. According to Insurance General Regulations (subsection k, section 35.8.1), the National Insurance Authority (Superintendencia de Seguros de la Nación) described these notes as a computable productive investment.
The maturity date of notes Class III will take place on 21 October 2020, accruing interest at an annual floating rate Badlar. Fix SCR Agente de Calificación de Riesgo S.A. has locally rated Class III “A(arg)–”. The notes have been listed on The Buenos Aires Stock Exchange (Bolsa de Comercio de Buenos Aires) and have been admitted to trading on the Mercado Abierto Electrónico S.A.
In this transaction, SBS Trade S.A., SBS Trading S.A. and Nación Bursátil S.A. acted as placement agents, while SBS Capital S.A. as organizer.
• Counsel to INVAP S.E., SBS Capital S.A., SBS Trade S.A., SBS Trading S.A. and Nación Bursátil S.A.
Estudio Beccar Varela (team led by junior partner Luciana Denegri, with assistance of associates Felipe L. M. Videla and Salvador Mele Mazza).
