PAGBAM acts on issue of Santander Argentina
Pérez Alati Grondona Benites & Arntsen advised Banco Santander Argentina in the issuance of class XXVII unsecured, unsecured, non-subordinated, non-convertible debentures with common guarantee of Santander Argentina.
The Notes, unsecured, denominated and payable in Pesos at variable interest rates, were issued on 22 January for a nominal value of $56,382,000,000,000, maturing on 22 January 2026, under the framework of its Global Program for the Issuance of Negotiable Obligations for up to US $3,000,000,000,000 (or its equivalent in Pesos or in other currencies or in other units of value).
The Notes marked the milestone of being Santander Argentina’s first TAMAR Rate issue and the first 2025 TAMAR Rate transaction.
The TAMAR rate, recently introduced by the Central Bank of Argentina, brings greater clarity and predictability to the financial market. Its adoption reinforces confidence and stability in peso transactions, benefiting both companies and individuals.
Furthermore, the Notes were locally rated ‘A1+(arg)’ by FIX SCR Risk Rating Agent ‘an affiliate of Fitch Ratings’ and have been admitted for listing on the Argentine Stock Exchanges and Markets and authorised for trading on the Electronic Open Market (Mercado Abierto Electrónico).
Ezequiel Guerrero, Cecilia Ramos and Lucía Vidaña acted as in-house lawyers for Santander Argentina.
PAGBAM’s team was led by partner Diego Serrano Redonnet (pictured), with support from counsel Alejo Muñoz de Toro, and associates Juan Ignacio Rodriguez Goñi and Tamara Friedenberger.
