Cerolini & Ferrari in new issue of Paramérica Notes
Cerolini & Ferrari Abogados has advised Paramérica, Banco Macro, Macro Securities and Adcap Securities Argentina, in the second issue of Paramérica’s negotiable notes under the Régimen PyME CNV Garantizada for a nominal value of $1.962.600.000.
The issue was made on 22 October for a nominal value of 1,962,600,000 at a variable rate with a cut-off margin of 7.49% and at an issue price of 100% of the nominal value of the Notes. The maturity date of the Notes will be October 2026, and their principal will be amortised in three consecutive semi-annual instalments, the first of which will mature on 22 October 2025, the second on 22 April 2026 and the third and last on 22 October 2026.
The offering was aimed at the local market and the Notes have been authorised for listing and trading on the Mercado Abierto Electrónico (MAE) and Bolsas y Mercados Argentinos (ByMA).
Macro Securities acted as arranger and, together with Adcap, acted as underwriters; while Macro acted as guarantor.
Paramérica is dedicated to the purchase and sale of seeds in general, the collection of cereals, oilseeds, fodder, grains and all the country’s fruit, and the agricultural production of hybrid and/or controlled seeds. The company is Argentina’s leading exporter of black beans, serving the main Latin American markets.
Rodrigo Covello, Valeria Lis Lopez Marti and Maria Paz Arrigoni Gonzalez acted as in-house legal counsels to Banco Macro and Macro Securities.
Cerolini & Ferrari’s team was led by partner Agustín L. Cerolini (pictured) and associates Martín Chindamo and Valentina Circolone.
