PAGBAM and Bruchou in first Notes issuance of Mirgor
Pérez Alati Grondona Benites & Arntsen has advised Mirgor on the creation of the global programme for the issuance of negotiable notes with a maximum outstanding face value of up to US$ 300,000,000.
In addition, PAGBAM advised on the inaugural issuance of Mirgor’s negotiable debentures, completed on 30 July 2024, which were issued under the Programme in the local capital market in two classes. Bruchou & Funes de Rioja advised the arrangers and underwriters.
The Class I Notes were issued for a nominal amount of $11,045,000,000, are denominated and payable in Pesos, at a floating interest rate equivalent to the Private Badlar Rate plus a margin of 6.3%, maturing on 30 July 2025.
The Class II Notes were issued for a nominal amount of US$37,831,034, are denominated in US dollars and payable in Pesos at the Applicable Exchange Rate, at a fixed rate of 3.75% nominal per annum, maturing on 30 January 2026.
Mirgor received financial advice on the issue from Empiria Consultores and First Corporate Finance Advisors.
Banco Santander Argentina, Banco de Galicia y Buenos Aires and First Corporate Finance Advisors acted as arrangers; while Banco Santander Argentina, Banco de Galicia y Buenos Aires, Banco Patagonia, Banco BBVA Argentina, Balanz Capital Valores, Puente Hnos, First Capital Markets, Adcap Securities Argentina, Macro Securities, Max Capital, Banco de Servicios y Transacciones and Industrial and Commercial Bank of China (Argentina) acted as underwriters.
Mirgor is a company with more than 40 years of experience, covering various sectors of the Argentine industry: automotive, consumer electronics and telephony, retail, services, agriculture and livestock, steel trading, among others, standing out for the manufacture of air conditioning equipment in the automotive sector; the manufacture, production and marketing of mobile phones and televisions in the household appliances sector and the provision of logistics and technical services and export operations related to the agriculture and livestock sector.
PAGBAM’s team was composed of partner Diego Serrano Redonnet (pictured left), counsel Alejo Muñoz de Toro and associates Joaquín López Matheu, Juan Ignacio Rodríguez Goñi and Tamara Friedenberger.
Bruchou’s team included partner Alejandro Perelsztein (pictured right) and associates Ramón Augusto Poliche, Malena Tarrío and Gonzalo Vilariño.
