José Bazán, Alejandro Perelsztein and Marcelo Tavarone

Bruchou and TRSYM assist in 360 Energy Solar’s Green Bond issuance

Bruchou Fernández Madero & Lombardi has assisted 360 Energy Solar in its entry into 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$100,000,000. Bruchou also advised Citibank as Trustee.

Tavarone Rovelli Salim & Miani has assisted Banco Itaú Argentina as lead arranger and underwriter, Banco de Valores as arranger and underwriter, and Allaria Ledesma & Cía, Balanz Capital Valores, Itaú Valores, Banco de Servicios y Transacciones, Invertir en Bolsa, Nuevo Chaco Bursátil, PP Inversiones, BACS Banco de Crédito y Securitización and Banco Hipotecario as underwriters.

Together they carried out the inaugural placement of Class 1 Negotiable Obligations for a nominal value of US$20,000,000 dollars, which were rated as Green Bonds, with a rate of 1.25% and maturing on 29 December 2025.

The proceeds of the placement will be used to finance the construction, installation, commissioning, operation and maintenance of the 360 Energy La Rioja-Nonogasta II Solar Park.

The Class 1 Notes are secured by a Guarantee and Payment Trust in which Citibank (Argentina) acts as Trustee.

The Notes were issued in line with the four main components of the International Capital Market Association’s Green Bond Principles. The Notes were rated “BV1 (arg)” by FIX SCR and were authorised for listing on the Green Panel of the Argentine Stock Exchanges and Markets (ByMA) and for trading on the Open Electronic Market (MAE).

360 Energy Solar is one of the pioneering companies in the solar energy sector in Argentina, focused on the development, technological research, commercialisation, construction, operation and maintenance of solar parks.

The in-house counsel involved in this transaction were Lucrecia Silvestroni and Evelina Anderson for 360 Energy; María Cecilia Victoria and Sebastian Videla for Banco Itaú Argentina and Itaú Valores; and Solange Spinelli and Pablo Vidal Raffo for BACS Banco de Crédito y Securitización.

Bruchou’s team included partners Alejandro Perelsztein (pictured centre) and José Bazán (pictured right), and associates Leandro Belusci, Josefina Mortola Saiach, Delfina Calderale, Sofia Gallo and Manuel Rodriguez Costi.

TRSYM’s team was led by partner Marcelo Tavarone (pictured left), with support from associates Facundo Gonzalez Bustamante, Ximena Sumaria and Rocio Valdez.

L Giselle Estrada

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