Beccar Varela advises Compañia Financiera Argentina on notes issuance
June, 2017 - Buenos Aires, Argentina
May 22nd, 2017. Estudio Beccar Varela advised Compañía Argentina Financiera S.A. on the Class XIX notes issuance, carried out in two series under the company’s global program for short, medium and long-term notes for a maximum nominal value of up to US$250 million (or its equivalent in other currencies). Series I notes were issued at a nominal value of AR$100 million, while Series II at a nominal value of AR$400 million.
The maturity date of Series I notes (denominated in Argentine Pesos) will take place on November 8th, 2018, accruing interest at Badlar rate + cut-off margin of 2.90% annually. The maturity date of Series II notes (also denominated in Argentine Pesos) will take place on May 8th, 2020, accruing interest at Badlar rate + cut-off margin of 3.49%.
Fix SCR Agente de Calificación de Riesgo S.A. has rated both series notes “AA-(arg)”. These 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. and the Bolsas y Mercados Argentinos S.A.
In this transaction, Banco de Galicia y Buenos Aires S.A. and Industrial and Commercial Bank of China (Argentina) S.A. acted as placement and settlement agents, and on the other hand as organizers and co-organizers respectively.
Legal advisors to the issue
Estudio Beccar Varela: team led by partner Javier Luis Magnasco, junior partner Luciana Denegri and associates María Victoria Pavani and Jose María Krasñansky.
