Beccar Varela advised Agrofina on notes issuance

Argentinean agribusiness company Agrofina retained Estudio Beccar Varela on the issuance of notes Class V and VI, carried out under the company’s Global Program of simple notes (non-convertible into shares) for a maximum nominal value of up to $60 million. 

Agrofina develops, produces, and distributes crop protection products. It was founded in 1978 and is now a subsidiary of Grupo Los Grobo, a Argentinean agribusiness and investment group.

In this transaction, Class V notes were issued at a nominal value of Argentinean Peso $331.696.229, with maturity date on 16 February 2019, accruing interest at a floating rate (Badlar + cut-off margin of 4.94%). Class VI notes were issued at a nominal value of US$4.378.944, with maturity date on 16 February 2019, accruing interest at a fixed rate of 7% per annum.

FIRST Corporate Finance Advisors and SBS Capital acted as organizers; Balanz Capital Valores, FIRST Capital Markets, Provincia Bursátil and Puente acted as organizers and placement agents; and SBS Trading as placement agents.

Luciana Denegri, a junior partner, led the Beccar Varela team advising Agrofina.