Cerolini & Ferrari assists Nirihuau in Series IV Notes issue
Cerolini & Ferrari Abogados has assisted Comercial y Ganadera del Nirihuau (Nirihuau), as well as the arrangers, placement agents and guarantors, in its fourth issue of negotiable obligations under the Régimen PyME CNV Garantizada for a nominal value of ARS $295,000,000.
The Series IV Notes were issued on 16 March 2023, at a variable interest rate equivalent to the Badlar Rate plus an applicable margin of 3.80%, payable semi-annually and at a price of 100% of the nominal value. The Notes will mature in March 2025 and their principal will be amortised in two instalments, each equal to 50% of the nominal value.
The issue was aimed at the local market and the Notes were authorised to be listed on Bolsas y Mercados Argentinos (ByMA), and to be listed and traded on the Mercado Abierto Electrónico (MAE).
Banco de Servicios y Transacciones (BST), Banco CMF, Banco Mariva, Banco Supervielle and Macro Securities acted as arrangers and placement agents. In turn, Supervielle Agente de Negociación acted as sub-placement agent; and Banco CMF, Banco Supervielle, Banco Mariva and Banco Macro acted as guarantors.
Nirihuau is a company dedicated to agricultural and livestock exploitation through a growing and sustainable model. This activity is carried out in four ranches located in the provinces of Buenos Aires and La Pampa.
The in-house lawyers advising on the transaction were: Ana Vea Murguia and Melina Lozano for BST; Miriam González, Cristian Ríos and Sebastián Calzetta for Banco CMF; María Eugenia Ataefe and Pablo Augusto Antao for Banco Mariva; and Rodrigo Alejandro Covello and Valeria López Martí for Banco Macro and Macro Securities.
Cerolini & Ferrari’s team consisted of partner Agustín L. Cerolini (pictured) and associates Martín Chindamo and Dana König.
