Muñoz de Toro and Bruchou counsel on new issue of ARCOR notes
Muñoz de Toro Abogados has counselled ARCOR, and Bruchou & Funes de Rioja the arrangers and underwriters, in the issuance of ARCOR’s Class 23 Notes for a nominal amount of $ 65,681,200,000
The issue was made on 11 June under the Global Programme for the Issuance of Simple Negotiable Obligations for a par value of up to US$1,200,000,000,000 (or its equivalent in other currencies or units of value). The Class 23 Notes will mature 12 months from their issue date, i.e. on June 11, 2025, bearing interest at an annual variable rate that will be equivalent to the sum of the Badlar Rate plus the Applicable Margin of 4.25% and amortizing its principal in a single payment to be made on the Maturity Date of the Class 23 Notes.
Fix Argentina and Moody’s Argentina have rated the Class 23 Notes as “A1+ (ARG)” and “ML A-1.ar”, respectively. In addition, the Notes have been admitted for listing on the Argentine Stock Exchanges and Markets and authorised for trading on the Electronic Open Market, being eligible by Euroclear Bank.
Banco de Galicia y Buenos Aires, Banco Santander Argentina, Macro Securities and Banco Patagonia acted as arrangers and underwriters; and Balanz Capital Valores, Facimex Valores, Puente Hnos, SBS Trading, TPCG Valores, Banco de la Provincia de Córdoba, Banco BBVA Argentina and Latin Securities acted as underwriters.
Muñoz de Toro’s team was led by Ricardo Muñoz de Toro, with the participation of Laura Gomes and Guillermina Muñoz de Toro.
Bruchou’s team included partner Alejandro Perelsztein (pictured), with the participation of Leandro Exequiel Belusci, Facundo Martín Suárez Loñ and Gonzalo Javier Vilariño.
