Bruchou assists in issuance of Genneia Class XXXIX, XL and XLI Notes
Bruchou & Funes de Rioja has assisted Genneia and the underwriters in their issuance of Class XXXIX, XL and XLI Notes for an aggregate nominal value equivalent to US$70,867,627, dated 14 July.
The Class XXXIX Notes, denominated in US dollars, will be paid in cash in pesos at the exchange rate provided in the offer documents and/or in kind through the delivery of Class XXIX Notes and/or Class XXXII Notes and payable in pesos at the exchange rate provided in the offer documents (dollar-linked); maturing on 14 July 2028; and will accrue interest at a fixed annual nominal rate of 2% and will repay their principal in a single installment on the maturity date.
The Class XL Notes were denominated, integrated and payable in US dollars (hard dollar) and will mature on 14 July 2025. They will bear interest at a fixed annual nominal rate equivalent to 5.5% and will be repayable in a single instalment on the maturity date.
The Class XLI Notes were denominated in US dollars, to be paid in cash in pesos at the exchange rate provided in the offer documents and/or in kind through the delivery of class XXIX Negotiable Obligations and/or class XXXII Negotiable Obligations and payable in pesos at the exchange rate provided in the offer documents (dollar-linked) (collectively, the “Negotiable Obligations”). They will mature on 14 July 2026, will not accrue interest on their outstanding principal and will be repayable in a single instalment on the maturity date.
The Notes are aligned with (i) the four main components of the ICMA (International Capital Market Association) 2018 Green Bond Principles (GBP), (ii) the Guidelines for the Issuance of Social, Green and Sustainable Marketable Securities in Argentina, as set out in the Rules of the National Securities Commission, and (iii) the Guide to Social, Green and Sustainable Bonds on the Bolsas y Mercados Argentinos S.A. (“BYMA”) Panel. 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 have been admitted for listing on BYMA’s SVS Panel and authorised for trading on the Electronic Open Market. FIX SCR rated them “AA-.ar”.
Macro Securities acted as arranger and underwriter; while Balanz Valores, Banco BBVA Argentina, Banco Santander Argentina, Banco de Galicia y Buenos Aires, Banco Patagonia, Facimex Valores, Max Capital, BACS Banco de Crédito y Securitización, TPCG Valores and Banco Hipotecario 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), with support from associates Manuel Etchevehere, Branko Serventich and Pedro María Azumendi.
