Bruchou assists Genneia in issuance of Class XXXV and XXXVII Notes
Bruchou & Funes de Rioja has assisted Genneia in its issuance of its additional Class XXXV and Class XXXVII notes for an aggregate nominal value equivalent to US $50,801,537.
The Notes were issued on 11 November, both denominated in US dollars, integrated and payable in Pesos at the exchange rate provided in the offering documents (dollar-linked).
Furthermore, the Notes are aligned with the 2018 Green Bond Principles (GBP) of the International Capital Market Association (ICMA), 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 the Guide for Social, Green and Sustainable Bonds in the Argentine 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 an impact and is consistent with the four main components of the GBP.
The maturity of the Additional Class XXXV Notes will operate on 24 December 2024. As the unamortised principal of the Class XXXV Notes will bear interest at a fixed interest rate of 0.00%, no interest will be paid and principal will be amortised in a single instalment on the maturity date.
The maturity date of the Class XXXVII Notes is 11 November 2026. Since the unamortised principal of the Class XXXVII Notes will accrue interest at a fixed interest rate of 0.00%, no interest will be paid and principal will be amortised in three semi-annual instalments starting on 11 May 2026.
The Notes were admitted for listing on BYMA’s SVS Panel and authorised for trading on the Electronic Open Market. Moody’s Risk Rating Agent rated the Notes as “AA-.ar”.
Banco Macro acted as arranger; while Macro Securities, BACS Banco de Crédito y Securitización, Balanz Valores, Banco BBVA Argentina, Banco Hipotecario, Banco Patagonia, Banco Santander Argentina, Facimex Valores, Max Capital and TPCG Valores acted as placement agents.
This issue is part of Bruchou’s Climate Action and Sustainable Business Platform.
Eduardo Segura, Carlos Lovera and Matías Julian Fraga acted as in-house lawyers for Genneia.
Bruchou’s team was led by partner José María Bazán (pictured), assisted by associates Manuel Etchevehere and Branko Serventich.
