Bruchou in new issue of BST Notes
Bruchou & Funes de Rioja acted as deal counsel in the issuance of Class XIV Notes by Banco de Servicios y Transacciones (BST).
The Notes, denominated in US Dollars and payable in Pesos, were issued on November 17th at a fixed interest rate of 0.00% nominal per annum, for a nominal amount of U$S 10,000,000, maturing on May 17th, 2025 and with a cutoff price of 1.2910 under its Global Program for the issuance of Negotiable Obligations for up to US$30,000,000 (or its equivalent in other currencies or units of value).
Furthermore, the Notes were locally rated “A-.ar” by Moody’s Local AR Risk Rating Agent and “A-(arg)” by Fix SCR (an affiliate of Fitch Ratings), both ratings with stable outlook. 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 and underwriter; while Banco Mariva, Banco Patagonia, SBS Trading, Industrial Valores, Banco Supervielle and Facimex Valores acted as underwriters.
Bruchou’s team was led by partner José María Bazan (pictured), with the participation of associates Leandro Exequiel Belusci, Quimey Lia Waisten and Pedro María Azumendi.
