Bruchou on issue of Genneia Class XXXVIII green Notes
Bruchou & Funes de Rioja has acted as advisor to Genneia in the issuance of its Class XXXVIII green notes, denominated in US Dollars, integrated and payable in Pesos at the exchange rate provided in the offering documents (dollar-linked).
The issue was made on 10 February 2023 for a nominal value equivalent to US$73,432,000. The Class XXXVIII Notes will mature on 10 February 2033, their unamortised principal will accrue interest at a fixed interest rate of 4.5%, and their principal will be amortised in thirteen semi-annual instalments, of which the first 12 instalments will be equal to 7.69% of the principal and the last instalment will be equal to 7.72% of the principal.
The Notes are aligned with (i) the four main components of the International Capital Market Association (ICMA) 2018 Green Bond Principles, (ii) the Guidelines for the Issuance of Social, Green and Sustainable Securities in Argentina, as set forth in the Rules of the National Securities Commission, and (iii) 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 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. Moody’s Risk Rating Agent rated the Notes as “AA-.ar”.
Banco Macro acted as arranger and Macro Securities as placement agent.
This issuance is part of Bruchou’s Climate Action and Sustainable Business Platform, which has been created to meet the growing demand of its clients in an issue that occupies a growing space in the global, regional and local corporate agenda.
Eduardo Segura, Carlos Lovera and Matías Julian Fraga acted as in-house lawyers for Genneia.
Bruchou’s team consisted of partner José María Bazán (pictured) and associates Manuel Etchevehere and Branko Serventich.
