MBPartners advises Fiplasto on US$10 million issuance
MBPartners Abogados has advised Fiplasto on the issuance of “Class I” convertible notes, a significant milestone in Argentina’s capital markets. The US$10 million issuance, the first of its kind in recent years, carries a fixed interest rate of 6% and matures on February 10, 2028.
The convertible notes, issued under Fiplasto’s Global Notes Issuance Program of up to US$20 million, were authorized by the Argentine Securities and Exchange Commission (CNV) on November 14, 2024. Denominated and payable in U.S. dollars, the notes have been listed on Bolsas y Mercados Argentinos. (ByMA) and involved the exercise of preemptive subscription rights by Fiplasto’s current shareholders.
Salaverri, Burgio & Wetzler Malbrán provided legal counsel to the transaction’s structuring agent and co-bookrunners, Allaria and Latin Securities, as well as to co-bookrunner Cocos Capital.
The proceeds from this issuance will be utilized to refinance Fiplasto’s financial liabilities from its recent acquisition of subsidiary Cuyoplacas.
MBPartners Abogados advised the issuer through its partner Ignacio Meggiolaro (pictured), along with associate Tomás Hodgers. Salaverri, Burgio & Wetzler Malbrán’s team was formed by partners Roberto Lizondo and Josefina Ryberg along with associates Rodrigo Durán and Francisco José Grasso.
