ZBV and PAGBAM advise on issuance of Negotiable Obligations by Cresud
Zang Bergel & Viñes Abogados has advised Cresud Sociedad Anónima Comercial Inmobiliaria Financiera y Agropecuaria, and Pérez Alati Grondona Benites & Arntsen has advised the underwriters, in the issuance of its Class XXXVII Notes.
The issue was finalised on 15 June for a total nominal value of US$ 24,388,036 maturing on 15 March 2025, at a fixed annual coupon rate of 5.50% (payable semi-annually) and at an issue price of 100% of the nominal value, under the framework of its Global Programme for the Issuance of Simple Negotiable Obligations (not convertible into shares) for a nominal value of up to US$ 500,000,000.
BACS Banco de Crédito y Securitización, Banco Hipotecario, Banco de Galicia y Buenos Aires, Banco Santander Argentina, Balanz Capital Valores, Industrial and Commercial Bank of China (Argentina), Banco de la Provincia de Buenos Aires, Banco de la Ciudad de Buenos Aires, Nación Bursátil, SBS Trading and Macro Securities acted as underwriters.
The offering was targeted at the local market and the Notes have been authorised for listing on the Argentine Stock Exchange and for trading on the Mercado Abierto Electrónico.
ZBV’s team included partners Carolina Zang (pictured left) and María Angélica Grisolia (pictured right), and associates Cristian Bruno, Nadia Dib and Luis Lario Perfetto.
PAGBAM’s team was led by partner Diego Serrano Redonnet (pictured centre), with support from associates Nicolás Aberastury, Adriana Tucci and Joaquín López Matheu.
