Nicholson Cano and TCA act in new issue of Surcos
Nicholson y Cano has advised Surcos, an agricultural inputs sales company, and Tanoira Cassagne Abogados has advised the underwriters, in the issuance of Series XII Class A VS and Series XII Class C notes.
The issuance and settlement took place on February 26th, under the framework of its global programme of issuance of negotiable obligations for up to a nominal value of US $100,000,000 (or its equivalent in other currencies), where the Series XII Class A VS Notes had a nominal value of U$S 3,606,129, at a rate of 7% and maturing on February 26th, 2026; and the Class C Notes had a nominal value of $745,000,000 at an annual variable nominal interest rate equivalent to the Badlar Rate plus a margin of 6% and maturing on February 26th, 2025.
The Series XII Class A Notes were issued in line with the Sustainability Linked Bonds (“VS”, for its acronym in Spanish) Principles contained in the Sustainability Linked Bonds Guide and the Regulation for the listing of Negotiable Obligations and Public Securities for their incorporation to the Sustainability Linked Bonds panel of Bolsas y Mercados Argentinos (ByMA). The sustainable bond evaluation was carried out by FIX SCR, which has granted the rating “BVS2(arg)”.
Banco Supervielle, Balanz Capital Valores, Banco Santander Argentina, Invertir en Bolsa, Banco de la Provincia de Buenos Aires, Banco de Galicia y Buenos Aires, PP Inversiones, Facimex Valores, Macro Securities, BACS Banco de Crédito y Securitización, Max Capital, Latin Securities and TPCG Valores acted as underwriters.
Nicholson y Cano’s team included partner Mario Kenny (pictured left) and associates Juan Martín Ferreiro and Aldana Belén Opezzo.
TCA’s team comprised partners Alexia Rosenthal (pictured centre) and Jaime Uranga (pictured right), and associates Juan Sanguinetti, Carolina Mercero and Federico Grieben.
