PAGBAM advises on new issue by Tarjeta Naranja
Perez Alati Grondona Benites & Arntsen has advised the underwriters in the issuance by Tarjeta Naranja of its class LXI simple, non-convertible into shares, unsecured, negotiable obligations for a par value of ARS $35,000,000,000.
The issuance was made on February 5th under the framework of the Frequent Issuer Regime established in Section VIII, Chapter V, Title II of the National Securities Commission Regulations.
The Class LXI Notes, which will mature on 5 February 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 3.50% nominal per annum, and will amortise 100% of the principal in a single payment on the maturity date.
The Class LXI Notes have been locally rated “A1(arg)” by FIX SCR on 31 January 2024. In addition, they were admitted for listing on the Argentine Stock Exchange and Markets and authorised for trading on the Electronic Open Market (Mercado Abierto Electrónico).
Banco de Galicia y Buenos Aires acted as arranger and underwriter, while Banco Santander Argentina, Macro Securities, Banco Patagonia, Banco Comafi, Banco de la Provincia de Córdoba, Banco Supervielle, Industrial Valores and Nuevo Banco de Santa Fe acted as underwriters.
PAGBAM’s team was composed of partner Diego Serrano Redonnet (pictured), counsel Alejo Muñoz de Toro, and associates Nahuel Perez de Villarreal and Juan Ignacio Rodriguez Goñi.
