TCA advises Cloronor in new issue of Notes
Tanoira Cassagne Abogados has advised Cloronor, as issuer, and Banco Hipotecario as arranger and underwriter, in the issuance of Series I Class 2 Notes with a face value of $250,000,000.
The Notes, issued on 31 October, were denominated and payable in pesos, and will accrue interest at an annual floating nominal interest rate equivalent to the BADLAR Rate plus a margin of 8.00%, maturing on 31 October 2026.
In addition, the Notes are guaranteed by Banco Hipotecario as a guarantee entity authorised by the Comisión Nacional de Valores (National Securities Commission).
Cloronor is engaged in the production, marketing and distribution of chemical products in the provinces of Formosa, Chaco, Corrientes, Misiones and Santa Fe. The main products marketed by the Issuer are sodium hypochlorite and aluminium sulphate (which are used for water purification) and, to a lesser extent, sodium hydroxide and aluminium polychloride, among others.
TCA’s team consisted of partners Alexia Rosenthal (pictured left), Jaime Uranga (pictured centre) and Ignacio Criado Díaz (pictured right), and associates Juan Manuel Simó, Mateo Fiorito and Florencia Ramos Frean.
