TCA represents Navarro in first issuance of Notes
Tanoira Cassagne Abogados has represented Navarro, as issuer, and Balanz Capital Valores, Banco CMF and Banco Supervielle as arrangers and underwriters in the issuance of the Series I Class 1 and 2 Notes.
The Series I Class 1 Notes were issued for a nominal amount of USD $290,128 denominated in US dollars, to be integrated and payable in pesos at a fixed interest rate of 9.5%; and the Series I Class 2 Notes for a nominal amount of $987,500,000 denominated, integrated and payable in pesos, at a variable annual nominal interest rate equivalent to the Badlar Rate plus a margin of 8.5%.
The Notes were issued on October 29, and are guaranteed by Banco CMF and Banco Supervielle in their capacity as Guarantee Entities authorized by the National Securities Commission (CNV).
Navarro is a company engaged in the sale of John Deere and PLA by John Deere agricultural machinery and implements. It is also engaged in the sale of spare parts and accessories, repair shop services and machinery maintenance at its branches in Cnel. Pringles, Cnel. Suarez, Daireaux, Pedro Luro and Bahía Blanca, as well as providing integrated solutions in precision agriculture.
TCA’s team was composed of partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured right) and associates Juan Sanguinetti, Carolina Mercero, Stefania Lo Valvo and Arturo Amos.
