Bruchou and PAGBAM assist in Genneia’s green Notes issue
Bruchou & Funes de Rioja has assisted Genneia, and Pérez Alati Grondona Benites & Arntsen the underwriters, in the issuance of the Class XLVI green notes, for a nominal value equivalent to USD $60,000,000.
The Class XLVI Notes were issued on 27 June and were denominated in US dollars and payable in pesos at the exchange rate provided in the offering documents (dollar-linked), at a fixed interest rate of 2.00% nominal per annum.
The Notes are aligned with (i) the four main components of the ICMA (International Capital Market Association) 2018 Green Bond Principles (GBP), (ii) the Guidelines for the Issuance of Social, Green and Sustainable Negotiable Securities in Argentina, as set forth in the Rules of the National Securities Commission, and (iii) the Guide for Social, Green and Sustainable Bonds in the Argentine Stock Exchange and Markets Panel (BYMA). In addition, Genneia has a Second Opinion from Sustainalytics, an external reviewer, confirming that Genneia’s Green Bond Framework achieves impact and is consistent with the four main components of the GBP.
The Class XLVI Notes will mature on 27 June 2026, on which date the Notes will repay their principal in full.
The Notes have also been admitted for listing on BYMA’s SVS Panel and authorised for trading on the Electronic Open Market. Moody’s Local AR Risk Rating Agent rated the Notes as “AA-.ar”.
Macro Securities acted as arranger and underwriter; while Balanz Capital Valores, BACS Banco de Crédito y Securitización, Banco BBVA Argentina, Banco de la Provincia de Buenos Aires, Banco de Servicios y Transacciones, Banco Hipotecario, Banco Mariva, Banco Patagonia, Banco Santander Argentina, Banco Supervielle, Facimex Valores, Invertir en Bolsa, Parakeet Capital, and TPCG Valores acted as underwriters.
Eduardo Segura, Carlos Lovera and Matías Fraga acted as in-house lawyers for Genneia.
Bruchou’s team was led by partner José María Bazán (pictured left) and associates Manuel Etchevehere, Pedro María Azumendi and Agustín Caputo.
PAGBAM’s team included partner Diego Serrano Redonnet (pictured right) and associates Nahuel Perez de Villarreal, Juan Ignacio Rodriguez Goñi and Tamara Friedenberger.
