Bruchou and Muñoz de Toro advise on ARCOR’s note issuance
Bruchou & Funes de Rioja and Muñoz de Toro Abogados have advised on the ARCOR’s issuance of Series 26 Notes for a nominal value of US$68,415,046 and its Series 27 Notes for a nominal value of AR$33,329,185,012 (collectively, the “Notes”).
The issuance was carried out under ARCOR’s Global Program for the Issuance of Simple Notes, with a total nominal value of up to US$1,200,000,000 (or its equivalent in other currencies or units of value). ARCOR is one of Argentina’s leading food producers.
The Series 26 Notes will be due after 24 months from their issuance and settlement date, that is, on May 9, 2027, and will bear interest at a fixed annual nominal rate of 6.75% on their outstanding principal and will be repaid in a single payment on the maturity date of the Series 26 Notes.
Fix Argentina has rated the Series 26 Notes as “AAA (arg)” with a “stable” outlook. The Series 27 Notes will be due after 12 months from their issuance and settlement date, that is, on May 9, 2026, and will bear interest at a variable annual rate equal to the sum of (a) the Tasa Tamar Privada plus (b) the Applicable Margin of 2.74% and will be repaid in a single payment on the maturity date of the Series 27 Notes. Fix Argentina has rated the Series 27 Notes as “A1+(arg)”.
The Notes have been admitted for listing on Bolsas y Mercados Argentinos and authorized for trading on A3 Mercados, being eligible by Euroclear Bank and/or Clearstream Banking Societé Anonyme.
Banco de Galicia y Buenos Aires, Banco Patagonia, Banco Santander Argentina, Macro Securities, Banco BBVA Argentina, SBS Trading, Invertir en Bolsa, Banco de la Provincia de Córdoba, Balanz Capital Valores, Puente Hnos, Petrini Valores, Banco Comafi, and Banco de la Provincia de Buenos Aires acted as local placement agents of the issuance
The legal advisor to Arcor was Muñoz de Toro Abogados led by Ricardo Muñoz de Toro (pictured) with the participation of Laura Gomes and Guillermina Muñoz de Toro.
Advising the placement agents, Bruchou & Funes de Rioja’s team was led by Alejandro Perelsztein with the participation of Leandro Exequiel Belusci, Sebastián Pereyra Pagiari and Francisco Mendióroz.
