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Beccar Varela 

May, 2021 - Buenos Aires, Argentina

 

Beccar Varela advises Tarjeta Naranja on Classes XLVII and XLVIII notes issuances.

 

Buenos Aires, May 4th, 2021. On April 6th, 2021, Tarjeta Naranja S.A. issued Class XLVII Notes, denominated, subscribed, and payable in U.S. Dollars, in the amount of US$8,500,000, which were issued to refinance part of the Class XXXVII Notes, in compliance with the provisions of BCRA Communications “A” 7106 and “A” 7230. Class XLVII Notes, which mature on April 28th, 2023, will accrue interest at a fixed rate of 7% n.a. and the principal will be amortized in a single payment on the due date. FIX SCR S.A. has rated them “AA-(arg)”.

On April 26th, 2021, Tarjeta Naranja issued Class XLVIII Notes, denominated, subscribed, and payable in Argentine Pesos, for an amount of AR$5,001,000,000. Class XLVIII Notes, maturing on April 26th, 2022, will accrue interest at a variable rate, equivalent to the sum of the Private Badlar Rate plus a cut-off margin of 5% n.a., and the principal will be amortized in a single payment on the maturity date. FIX SCR S.A. has rated them “A1(arg)”.

Both issuances were carried out under the Global Short, Medium and/or Long-term Notes Issuance Program for a nominal amount of up to U$S1,000,000,000,000 (or its equivalent in other currencies, units of measure, or units of value).

Class XLVII and XLVIII Notes have been admitted for listing in Bolsas y Mercados Argentinos S.A. and authorized for trading in the Mercado Abierto Electrónico S.A.

In Class XLVII Notes issuance, Banco de Galicia y Buenos Aires S.A.U. acted as organizer and placement agent. All parties involved were advised by Beccar Varela: team led by Luciana Denegri and Pablo J. Torretta, assisted by María Victoria Pavani, Gonzalo Ochoa and María Inés Cappelletti.

In Class XLVIII Notes issuance, Banco de Galicia y Buenos Aires S.A.U. acted as organizer and placement agent, while Banco Comafi S.A., Banco Itaú Argentina S.A., Banco Patagonia S.A., Industrial Valores S.A., Itaú Valores S.A., and Macro Securities S.A. acted as placement agents. All parties involved were advised by Beccar Varela: team led by Luciana Denegri, assisted by María Victoria Pavani, María Inés Cappelletti, Julián Ojeda and María Luján Retamozo.


 

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