Sergio Tálamo and Diego Serrano

PAGBAM assists in issuance of Notes by AESA

Pérez Alati Grondona Benites & Arntsen has assisted the arrangers and underwriters in the placement and issuance in the local market of the class 11 notes of Ángel Estrada y Compañía (AESA), for a nominal amount of ARS 767,446,001 and the class 12 notes for a nominal amount of ARS 80,041,001.

 Marval O’ Farrell Mairal advised AESA. Banco de Galicia y Buenos Aires acted as arranger and placement agent; while Banco Santander Argentina, Cohen, Banco de Servicios y Transacciones, Allaria Ledesma & Cía., Nuevo Chaco Bursátil, Facimex Valores, Banco BBVA Argentina and Balanz Capital Valores acted as underwriters.

The issuances were made on 16 December 2022 under the framework of the Program of Simple Negotiable Obligations Not Convertible into Shares for up to V/N USD 30,000,000 (or its equivalent in other currencies).

The Class 11 Notes, denominated and payable in ARS, have a variable interest rate corresponding to the sum of the Private Badlar Rate and a Cut-off Margin of 4.49%, and mature on 16 December 2023. The Class 12 Notes, denominated and payable in ARS, have a variable interest rate corresponding to the sum of the Private Badlar Rate and a 7% Cut-off Margin, and mature on 16 December 2027.

Ángel Estrada y Compañía is an Argentinean manufacturer of school and office stationery products, with more than 145 years of experience competing globally.

Marval O’Farrell Mairal’s team consisted of partner Sergio Tálamo (pictured left) and associate Marina Rotman.

PAGBAM’s team was led by partner Diego Serrano Redonnet (pictured right), with support from associates Nicolás Aberastury, Nahuel Perez de Villarreal, Joaquín López Matheu and Jerónimo Juan Argonz.

L Giselle Estrada

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