PAGBAM acts in new Notes issue of Tarjeta Naranja

Pérez Alati Grondona Benites & Arntsen has acted as counsel to the underwriters in the issuance of Tarjeta Naranja’s class LXII simple, non-convertible into shares, unsecured negotiable obligations for a par value of ARS $30,000,000,000.

This issuance was made on August 26, under the framework of the Frequent Issuer Regime set forth in Section VIII, Chapter V, Title II of the Argentine Securities Commission Regulations.

The Class LXII Notes, which will mature on May 26, 2025, will accrue interest at a variable rate, which will be equivalent to the sum of the Private Badlar Rate plus a cut-off margin of 5.5% nominal annual rate, and will amortize 100% of the principal in a single payment to be made on their maturity date.

Also, the Class LXII Notes have been locally rated “A1+(arg)” by FIX SCR. In addition, they were admitted for listing in the Argentine Stock Exchanges and Markets and authorized for trading in the Electronic Open Market.

Banco de Galicia y Buenos Aires acted as arranger and underwriter, while Banco Santander Argentina, Banco Patagonia, Nuevo Banco de Santa Fe, Banco Comafi and Macro Securities acted as underwriters.

PAGBAM’s team was led by partner Diego Serrano Redonnet (pictured), with the support of counsel Alejo Muñoz de Toro, and associates Joaquín López Matheu and Tamara Friedenberger.