Bruchou and PAGBAM act in new issue of Genneia
Bruchou & Funes de Rioja acted as counsel to Genneia and Pérez Alati Grondona Benites & Arntsen as counsel to the underwriters, in the issuance of the class XLVII green notes.
The Notes, denominated and payable in US dollars in Argentina (hard dollar), at a fixed interest rate of 6.00% nominal per annum, were issued on 17 October for a nominal value equivalent to USD $48,349,695.
The Notes are aligned with (i) the four main components of the ICMA (International Capital Market Association) Green Bond Principles 2021 (GBP), (ii) the Guidelines for the Issuance of Social, Green and Sustainable Negotiable Securities in Argentina, as set forth in the Rules of the National Securities Commission, and (iii) the Guide for Social, Green and Sustainable Bonds in the Argentinean Stock Exchange and Markets Panel (BYMA). In addition, Genneia has a Second Opinion from Sustainalytics, an external reviewer, confirming that Genneia’s Green Bond Framework achieves impact and is consistent with the four main components of the GBP.
The Class XLVII Notes will mature on 17 October 2028, on which date the Notes will repay their principal in full.
The Notes have also been admitted for listing on BYMA’s SVS Panel and authorised for trading on the Electronic Open Market. Moody’s Local AR Risk Rating Agent rated the Notes as ‘AA.ar’ with a stable outlook.
Macro Securities acted as arranger and underwriter; while Banco Santander Argentina, BACS Banco de Crédito y Securitización, Banco Hipotecario, Banco de la Provincia de Buenos Aires, Banco BBVA Argentina, Banco Patagonia, Banco Supervielle, Invertironline, Cocos Capital, Banco Mariva, Petrini Valores and PP Inversiones acted as underwriters.
Eduardo Segura, Carlos Lovera and Matías Fraga acted as in-house counsel for Genneia.
Bruchou’s team comprised partner José María Bazán (pictured left) and associates Ramón Augusto Poliche, Branko Serventich and Pedro María Azumendi.
PAGBAM’s team included partner Diego Serrano Redonnet (pictured right), counsel Alejo Muñoz de Toro and associates Nahuel Perez de Villarreal and Tamara Friedenberger.
