Bruchou assists in new issue of BST notes
Bruchou & Funes de Rioja acted as deal counsel in the issuance of the Class XVIII senior unsecured notes of Banco de Servicios y Transacciones (BST).
The issuance took place on September 17, where the Class XVIII Notes, simple, non-convertible into shares, denominated and payable in pesos, were issued at a floating interest rate for a nominal value of $12,040,000,000, maturing on June 17, 2025 and whose cut-off margin as a result of the tender was 6.50%, within the framework of its global programme for the issuance of simple negotiable obligations (non-convertible into shares) for up to US$50,000,000 (or its equivalent in other currencies or units of value).
Furthermore, the Notes were rated ‘ML A-1.ar’ by Moody’s Local AR Risk Rating Agent. In addition, the Notes have been admitted for listing on the Argentine Stock Exchanges and Markets and authorised for trading on the Electronic Open Market.
BST acted as issuer, arranger, placement and settlement agent; and SBS Trading, Banco Patagonia, Banco Mariva, Banco Supervielle, Banco de la Provincia de Córdoba, Adcap Securities Argentina, Allaria and Banco de Valores acted as placement agents.
Bruchou’s team was led by partner José María Bazán (pictured), with the participation of associates Leandro Exequiel Belusci, Pedro María Azumendi and Gonzalo Javier Vilariño.
