C&F assists in first issue of San Bautista del Sur
Cerolini & Ferrari Abogados has advised San Bautista del Sur in its first issue of Negotiable Obligations under the CNV Secured SME Regime for an amount of ARS $300.000.000.000.
The issue was made on August 29th, where the Series I Notes had a variable interest rate equivalent to the Badlar Rate plus an applicable margin of 0%, payable quarterly, and at an issue price of 100% of the nominal value of the Notes. Furthermore, the Notes will mature in August 2025, and their principal will be amortised in 3 consecutive semi-annual instalments starting on the 12th month from the issue date. These instalments will be equivalent to 33% of the principal of the Notes in months 12 and 18, and 34% in month 24.
The offer was directed to the local market and the Notes have been authorised for listing and trading on the Mercado Abierto Electrónico (MAE).
Banco de Servicios y Transacciones, Banco CMF, Banco Mariva and Macro Securities acted as arrangers and placement agents; Banco CMF, Banco Mariva, and Banco Macro acted as underwriters.
San Bautista is a domestically-owned company that has been operating in the livestock market since 2017. The company’s specific activities include cattle breeding, agricultural crop seed production, forage crop cultivation and seasonal crops. The main products marketed by the company include weaned calves, forage crops and other agricultural crops.
In-house counsels 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.
C&F’s team consisted of partner Agustín L. Cerolini (pictured), and associates Martín Chindamo, Dana König and Ornella Gagliolo.
