Salaverri and PAGBAM participate in new issue of Grupo ST Notes

Salaverri Burgio & Wetzler Malbrán has advised Grupo ST in the placement and issuance in the local capital market of the Class 10 and 11 Notes.

The Class 10 Notes were issued at a floating rate, for a nominal value of $ 1,743,800,000, maturing on February 19, 2026, denominated, subscribed, integrated and payable in cash in Pesos, in Argentina; while the Class 11 Notes, at a fixed rate of 6.00%, with a nominal value in dollars of US$ 8,400,662, maturing on February 19, 2026, denominated in dollars and subscribed, integrated and payable in cash in Pesos, in Argentina.

The Notes were issued on 19 February 2024, under the framework of the Global Programme for the issuance of simple negotiable debentures (not convertible into shares) for up to US$75,000,000 (or its equivalent in other currencies or units of value). Furthermore, the Notes will be redeemed in 8 quarterly instalments as from the issue and settlement date.

GRUPO ST and the placement agents Banco de Servicios y Transacciones, SBS Trading, Facimex Valores, Banco Mariva, Industrial Valores, Macro Securities, Banco Patagonia, Banco Superville and Puente Hnos. were advised by Salaverri Burgio & Wetzler Malbrán; while the placement agent Banco Santander Argentina was advised by the law firm Pérez Alati Grondona Benites & Arntsen (PAGBAM).

The Notes have been admitted for listing on the Argentine Stock Exchanges and Markets and authorised for trading on the Electronic Open Market, and rated on 6 February 2024 locally by FIX SCR Risk Rating Agent as “A-.ar”, with a stable outlook.

Salaverri’s team included partner Roberto Lizondo (pictured left), and associates Delfina Meccia, Santiago Linares Luque and Luciana Malito.

PAGBAM’s team was composed of partner Diego Serrano Redonnet (pictured right), counsel Alejo Muñoz de Toro and associates Nahuel Perez de Villareal and Mora Mangiaterra Pizarro.