Beccar Varela advises on Special Grains and Petroagro’s Class II Notes’ Co-issuance.

May, 2023 - Buenos Aires, Argentina

Buenos Aires, May 29th, 2023. On May 5th, the Co-issuers Special Grains S.A. and Petroagro S.A. conducted their second co-issuance of notes; Class II Notes —simple, non-convertible into shares, unguaranteed—, were denominated in U.S. Dollars but integrated —and payable— in Argentine Pesos, for a total nominal amount of US$7,841,511. The joint issuance was carried out within the companies’ Global Program for the Issuance and/or Co-Issuance of Short, Medium, and/or Long Term Notes for a maximum outstanding amount of up to US$20,000,000 (or its equivalent in other currencies or value units).

Class II Notes will mature on November 5th, 2025, and will accrue interest at a 3.8% fixed nominal annual rate. The principal will be amortized in two payments, to be completed on the maturity date.

On April 28th, FIX SCR S.A. locally rated the Notes “BBB+(arg)”; They were admitted for listing on Bolsas y Mercados Argentinos S.A. and Mercado Abierto Electrónico S.A.

In this Notes issuance, Special Grains S.A. and Petroagro S.A. acted as co-issuers, while SBS Capital S.A. served as the organizer, and Banco de la Provincia de Buenos Aires, Banco de Servicios y Transacciones S.A., Facimex Valores S.A., Banco CMF S.A., and SBS Trading S.A. acted as placement agents.

Beccar Varela provided legal advice to all parties involved in the second co-issuance of notes of Special Grains S.A. and Petroagro S.A. The team was led by partner Luciana Denegri and comprised of associates María Inés Cappelletti and Julián Ojeda.