Beccar Varela advised Tarjeta Naranja on note issuance

Estudio Beccar Varela acted for Tarjeta Naranja on the international issuance of notes Class XXXVII, issued under the company’s global program for short, medium and long-term notes. 

The notes were issued on April 11th, for nominal value of $250 million and will mature in April 2022, accruing interest at a floating rate (Badlar +3.5% cut off margin, with a minimum rate of 15%). The notes were listed on the Luxembourg Stock Exchange and have also been admitted to trading on the Euro MTF market, the Buenos Aires Stock Exchange and Mercado Abierto Electrónico. 

HSBC Securities (USA), JPMorgan Securities and Itau BBA USA Securities were the initial purchasers while Banco de Galicia y Buenos Aires and Banco Itaú Argentina acted as placement agents.

Tarjeta Naranja is as a credit card issuer in Argentina which also offers insurance products. The company was founded in 1985 in Córdoba, Argentina, and is a subsidiary of Tarjetas Regionales, part of the Galicia Financial Group.

Tarjeta Naranja instructed a team at Beccar Varela led by partner Javier L. Magnasco. The issuer also retained Gibson, Dunn & Crutcher as international counsel.

Bruchou, Fernández Madero & Lombardi in Argentina and Linklaters in New York advised the initial purchasers and local placement agents.

Beccar Varela advised Tarjeta Naranja on note issuance

Ignacio Abella

thelatinamericanlawyer.com

The Latin American Lawyer is a bimonthly digital magazine, published by Iberian Legal Group, available in Spanish and Brazilian Portuguese. It represents the main source of information in the legal business sector in America Latina. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

For further information, please visit the Group’s website www.lcpublishinggroup.com

Iberian Legal Group
Registered office: C/ Manuel Silvela, 8 - Oficinas 1 Dcha 28010 Madrid España

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram