PAGBAM assists in the new issuance of Cresud Notes
Zang Bergel & Viñes Abogados has assisted Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria (Cresud), as issuer, and Pérez Alati Grondona Benites & Arntsen as underwriters, in the issuance of the Class XLV Notes.
The Class XLV Notes were issued on 22 April, under the framework of the Global Programme for the Issuance of Simple Negotiable Obligations (not convertible into shares) for a nominal value of up to USD 500,000,000 (or its equivalent in other currencies), for a total nominal value of USD 10,199,068, maturing on 22 August 2026, at a fixed annual nominal interest rate of 6.00% and at an issue price of 100% of the nominal value.
BACS Banco de Crédito y Securitización, Banco Hipotecario, Banco Patagonia, Banco de la Provincia de Buenos Aires, Balanz Capital Valores, Facimex Valores, Banco Supervielle, Invertir en Bolsa, and Banco Mariva acted as underwriters.
The offering was directed to qualified investors in the local market and the Notes have been authorised for listing on the Argentine Stock Exchanges and Markets and for trading on the Mercado Abierto Electrónico.
PAGBAM’s team consisted of partner Diego Serrano Redonnet (pictured), counsel Alejo Muñoz de Toro, and associates Juan Ignacio Rodríguez Goñi and Tamara Friedenberger.
