Bruchou and Muñoz de Toro help in new ARCOR issue

Muñoz de Toro Abogados and Bruchou & Funes de Rioja acted as legal advisors in the issuance by ARCOR, an Argentine food producer, of Class 24 Notes for a nominal value of $40,000,000,000,000.

The issuance was made on 7 October under the Global Program for the issuance of Simple Negotiable Obligations for a nominal value of up to USD $1,200,000,000,000 (or its equivalent in other currencies or units of value). The Class 24 Notes will mature 12 months from their issue date, i.e. on 7 October 2025, bearing interest at an annual floating rate equal to the sum of the Badlar Rate plus the Applicable Margin of 4.99% and repaying their principal in a single payment to be made on the Maturity Date of the Class 24 Notes.

Fix Argentina and Moody’s Argentina have rated the Class 24 Notes as ‘A1+ (ARG)’ and ‘ML A-1.ar’, respectively. Furthermore, the Class 24 Notes have been admitted for listing on the Argentine Stock Exchanges and Markets and authorised for trading on the Electronic Open Market, being eligible by Euroclear Bank.

Banco de Galicia y Buenos Aires, Banco Santander Argentina, Banco BBVA Argentina and Banco Patagonia acted as arrangers and underwriters; and Banco de la Provincia de Córdoba, Facimex Valores, SBS Trading, Balanz Capital Valores and Latin Securities acted as placement agents.

Muñoz de Toro advised ARCOR with a team that included Ricardo Muñoz de Toro, with the participation of Laura Gomes and Guillermina Muñoz de Toro.

Bruchou’s team advised the arrangers and underwriters with a team led by Alejandro Perelsztein (pictured), supported by Leandro Exequiel Belusci, Facundo Martín Suárez Loñ and Sebastián Pereyra Pagiari.