Bruchou and TRSYM in the new issue of 360 Energy Solar
Bruchou & Funes de Rioja has advised 360 Energy Solar, and Tavarone Rovelli Salim & Miani has advised the arrangers and underwriters, in the issuance of Class 4 Notes, qualified as Green Bonds, for a par value of USD $22,278,429.
The issuance was made under the framework of the program for the issuance of short-, medium- or long-term notes for a maximum amount of up to USD $200,000,000 (or its equivalent in other currencies or units of value), where the Notes had a fixed annual rate of 8.00% and maturity on October 30, 2027.
The proceeds from the placement of the Notes will be used to: (i) finance the construction, installation, commissioning, operation and maintenance of solar photovoltaic farm/s and storage systems related to the Portfolio of Eligible Green Projects; (ii) integration of working capital; and (iii) integration of capital contributions in controlled or related companies. The Notes are denominated and payable in U.S. dollars in Argentina.
Furthermore, 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 Securities in Argentina’ and the Social, Green and Sustainable Bonds Guide of the Argentine Stock Exchange and Markets Panel (ByMA). Thus, in the green bond evaluation carried out by FIX SCR, the Notes have been rated “BV1 (arg)”.
The Notes have been authorized for listing on the ByMA Green Panel and for trading on the Mercado Abierto Electrónico (MAE).
Banco de Galicia y Buenos Aires acted as settlement agent; Banco de Galicia y Buenos Aires and Banco BBVA Argentina as arrangers; and Banco de Galicia y Buenos Aires, Banco BBVA Argentina, Industrial and Commercial Bank of China (Argentina), Banco Comafi, Banco de Servicios y Transacciones, BACS Banco de Crédito y Securitización, Balanz Capital Valores, Invertir en Bolsa, Banco Mariva, and PP Inversiones as placement agents.
360 Energy Solar is one of the pioneering companies in the solar energy sector and one of the leaders in renewable energies in Argentina, focused on the development, technological research, commercialization, construction, operation and maintenance of solar parks.
Lucrecia Silvestroni and Evelina Anderson acted as internal advisors to 360 Energy Solar.
Bruchou’s team consisted of partner Alejandro Perelsztein (pictured left) and associates Leandro Belusci, Sofía Maselli and Gonzalo Vilariño.
TRSYM’s team included partner Marcelo Tavarone (pictured right) and associates Ximena Sumaria, Eduardo Cano, Juan Cruz Carenzo and Catalina Scazziota.
