Beccar Varela and PAGBAM assist in issuance of Tarjeta Naranja Class LVII Notes
Beccar Varela has assisted Tarjeta Naranja, as issuer, and Banco de Galicia y de Buenos Aires, as arranger and underwriter, in the issuance of class LVII simple, non-convertible into shares, unsecured notes for a par value of AR$12,512,200,000. Pérez Alati Grondona Benites & Arntsen has assisted the remaining underwriters.
The Class LVII Notes will accrue interest at a variable rate, which will be equivalent to the sum of the Private Badlar Rate plus a cut-off margin of 4.5%, and will mature on 3 February 2024 and will repay 100% of the principal in a single payment on the maturity date.
In addition, the Class LVII Notes were admitted for listing on the Argentine Stock Exchange and Markets and authorised for trading on the Electronic Open Market.
Banco Patagonia, Banco Santander Argentina, Industrial Valores, Macro Securities and Banco Comafi acted as underwriters.
Beccar Varela’s team included partner Luciana Denegri (pictured left), and associates María Victoria Pavani, Julián Ojeda, Tomás Cappellini and María Belén Tschudy.
PAGBAM’s team consisted of partner Diego Serrano Redonnet (pictured right), together with associates Alejo Muñoz de Toro and Jerónimo Juan Argonz.
