PAGBAM acts in new issue of Cresud Notes
Pérez Alati Grondona Benites & Arntsen has advised the underwriters in the issuance of the Class XLIII Notes and the Class XLIV Notes of Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (Cresud).
The issue took place on 17 January, where the Class XLIII Notes were issued at a variable interest rate, maturing on 17 January 2025, denominated and payable in pesos, for a total nominal value of $19,886,023,585; while the Class XLIV Notes were issued at a fixed interest rate of 6.00% annual nominal amount, maturing on 17 January 2027, denominated and payable in US dollars, for a total nominal value of US$39,765,830.
The Notes were issued under the Company’s Global Programme for the issuance of Simple Negotiable Obligations (not convertible into shares) for a nominal value of up to USD 500,000,000 (or its equivalent in other currencies).
The public offering of the Notes was addressed to the local market and the Notes have been authorised for listing on the Argentine Stock Exchange and for trading on the Electronic Open Market.
Banco de Galicia y Buenos Aires, BACS Banco de Crédito y Securitización, Banco Hipotecario, Banco Santander Argentina, Banco Patagonia, Banco de Servicios y Transacciones, SBS Trading, Facimex Valores, Balanz Capital Valores, Banco Supervielle, Bull Market Brokers, Cocos Capital, Invertir Online, Petrini Valores, Latin Securities, Invertir en Bolsa, Banco de la Provincia de Buenos Aires, Banco Comafi, and Industrial Valores acted as underwriters.
PAGBAM’s team consisted of partner Diego Serrano Redonnet (pictured), counsel Alejo Muñoz de Toro, and associates Joaquín López Matheu and Juan Ignacio Rodríguez Goñi.
