Bruchou and PAGBAM act in new issue of green notes by Genneia
Bruchou & Funes de Rioja has advised Genneia, and Pérez Alati Grondona Benites & Arntsen the underwriters, in the issuance of the Class XLIII and XLIV green notes.
The issue was made on 8 March, where the class XLIII green Notes were denominated and payable in US dollars, at a fixed interest rate of 6.25% nominal annual amount, for a nominal value equivalent to US$20,697. 951, maturing on 8 March 2027; and the green Class XLIV Notes were denominated in US dollars and payable in pesos at the exchange rate provided in the offering documents (dollar-linked), at a fixed interest rate of 5.00% nominal per annum, for a nominal value equivalent to US$ 12,502,792, maturing on 8 March 2026.
The Notes are aligned with (i) the four main components of the 2018 Green Bond Principles (GBP) of the International Capital Market Association (ICMA), (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 Notes will repay their principal in full on the Maturity Date of the Class XLIII Notes and on the Maturity Date of the Class XLIV Notes.
The Notes have been admitted for listing on BYMA’s SVS Panel and authorised for trading on the Electronic Open Market. Furthermore, Moody’s Local AR Risk Rating Agent rated the Notes as “AA-.ar”.
Macro Securities acted as arranger and underwriter; while Balanz Capital Valores, BACS Banco de Crédito y Securitización, Banco BBVA Argentina, Banco de Galicia y Buenos Aires, Banco de la Provincia de Buenos Aires, Banco de Servicios y Transacciones, Banco Hipotecario, Banco Patagonia, Banco Santander Argentina, Facimex Valores, Max Capital, Petrini Valores, and TPCG Valores acted as underwriters.
Eduardo Segura, Carlos Lovera and Matías Fraga acted as in-house lawyers for Genneia.
Bruchou’s team was led by partner José María Bazán (pictured left) and associates Manuel Etchevehere, Pedro María Azumendi and Agustín Caputo.
PAGBAM’s team included partner Diego Serrano Redonnet (pictured right), counsel Alejo Muñoz de Toro and associates Nahuel Perez de Villarreal and Juan Ignacio Rodriguez Goñi.
