Francisco Molina and José Bazán

Bruchou and TRSYM advise on first issue of Energías Renovables Las Lomas

Bruchou & Funes de Rioja has advised Energías Renovables Las Lomas (in the process of changing its corporate name to MSU Green Energy), in the entry to the Public Offering Regime of the CNV and in the creation of the Programme for the issuance of short, medium or long term simple negotiable obligations (not convertible into shares) for a maximum amount of up to US$200,000,000 (or its equivalent in other currencies or units of value).

Tavarone Rovelli Salim & Miani advised Banco de Galicia y Buenos Aires, Banco Itaú Argentina, Banco Santander Argentina and Banco Supervielle as arrangers and underwriters; and Banco de Servicios y Transacciones, Banco de la Provincia de Buenos Aires, Facimex Valores, Allaria, Puente hnos, Invertir en Bolsa, Balanz Capital Valores and Itaú Valores as underwriters.

The operation also implied the placement of Class 1 Negotiable Obligations for a nominal value of US$ 22,593,401, which qualified as Green Bonds, with a rate of 1.00% and maturing on October 12, 2026; and Class 2 Negotiable Obligations for a nominal value of US$ 92,406,599, which qualified as Green Bonds, with a rate of 4.50% and maturing on October 12, 2033.

The Notes were issued in line with the four main components of the International Capital Market Association’s Green Bond Principles, following the ‘Guidelines for the Issuance of Social, Green and Sustainable Marketable Securities in Argentina’ and the Guide for Social, Green and Sustainable Bonds of the Argentinean Stock Exchanges and Markets Panel. Accordingly, in the green bond evaluation carried out by FIX SCR, the Notes have been rated ‘BV1 (arg)’.

The Notes have been authorised for listing on the ByMA Green Panel and for trading on the Mercado Abierto Electrónico (MAE).

Energías Renovables Las Lomas is a company that is part of the MSU Group -a major player in agricultural production and with a growing presence in the energy sector- engaged in the planning, development, execution and operation of renewable energy projects -wind, solar, hydroelectric, geothermal and biomass- for the production and sale of electricity.

Ezequiel Abal acted as in-house counsel to Energías Renovables Las Lomas.

Bruchou’s team was led by partner José María Bazán (pictured right), with assistance from associates Leandro Belusci, Facundo Suárez Loñ and Teo Panich.

TRSYM’s team involved partner Francisco Molina Portela (pictured left) and associates Eduardo Cano, Ramiro Catena and Agustín Ponti.

L Giselle Estrada