TCA advises Tecnovax on Additional Green Notes issue
Tanoira Cassagne Abogados has advised Tecnovax, as issuer and StoneX Securities as arranger and underwriter, in the issuance of the Additional Series I Class 1 Green Notes and the Additional Series I Class 2 Green Notes.
The Additional Series I Class 1 Green Notes were issued in pesos, maturing on 13 January 2025, for a total amount of $2,524,900,000, at an issue price of $2,524,900,000. 000, at an issue price of 103.75%, with a variable rate composed of the Private BADLAR rate plus a 5% cut-off margin; while the Additional Series I Class 2 Green Notes, in US dollars and payable in pesos, maturing on 13 July 2026, for a total amount of US$ 2,368,500, at an issue price of 88.25%, with a fixed rate of 0.00%.
Both issues were made on 23 May, under the framework of the global programme for the issuance of negotiable bonds up to a maximum amount of US$ 19,000,000 (or its equivalent in other currencies and/or units of value).
The Notes will be additional to the Series I Notes previously issued by Tecnovax on 13 July 2023, having identical terms and conditions in all respects, except for the issue date and issue price. As such, they are fungible with each other and constitute a single class of debt securities.
Furthermore, the Notes were issued in line with the four main components of the International Capital Market Association’s Green Bond principles, and in accordance with the “Guidelines for the Issuance of Social, Green and Sustainable Marketable Securities in Argentina” and as set out in the Social, Green and Sustainable Bond Guidelines of the Argentine Stock Exchanges and Markets Panel (ByMA).
TCA’s team was composed of partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured right) and associates Lucía Viboud Aramendi, Juan Manuel Simó and Federico Grieben.
