PAGBAM advises on $500m Cresud issue
PAGBAM has counselled the underwriters in the issuance of Cresud’s USD 500 million Negotiable Obligations
Pérez Alati, Grondona, Benites & Arntsen has counselled BACS Banco de Crédito y Securitización S.A., Banco Hipotecario S.A., Banco de Galicia y Buenos Aires S.A.U., Banco Santander Río S.A., Banco de la Provincia de Buenos Aires, Balanz Capital Valores S.A.U., SBS Trading S.A., AR Partners S.A., Facimex Valores S.A., and Invertir en Bolsa S.A., in their capacity as underwriters, in the issuance of the Class XXXVI Notes of Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria, under its Global Programme for the issuance of Simple Notes (not convertible into shares) for a nominal value of up to $500,000,000 US dollars. Zang, Bergel & Viñes Abogados advised Cresud.
The issue was finalised on 18 February, for a total nominal value of $40,583,296 US dollars, maturing on 18 February 2025, at a fixed rate of 2.00% nominal per annum (payable semi-annually) and at an issue price of 100% of the nominal value.
The offering was directed to the local market and the Notes have been authorised for listing on Bolsas y Mercados Argentinos S.A. and for trading on Mercado Abierto Electrónico S.A.
Zang, Bergel & Viñes’ team consisted of partners Carolina Zang and María Angélica Grisolia and associates Cristian Bruno and Nadia Dib.
PAGBAM’s team was led by partner Diego Serrano Redonnet (pictured left), supported by associates Nicolás Aberastury (pictured right), Adriana Tucci and Jerónimo Juan Argonz.
