Beccar Varela advises on INVAP’s Class V Notes issuance.
August, 2022 - Buenos Aires, Argentina
Buenos Aires, August 24th, 2022. On July 29th, INVAP S.E. (“INVAP”) issued Class V Notes, carried out in two series under the company’s Global Program of up to US$50,000,000 (or its equivalent in other currencies and/or units of value), for a total nominal amount of AR$1,212,301,586.
Series I Notes were issued for a nominal amount of AR$642,857,142, maturing on July 29th, 2024. They will accrue interest at a floating rate equivalent to the private Badlar rate, and will amortize their principal in five payments in the last five quarters. Series II Notes were issued for a nominal amount of AR$569,444,444, maturing on July 29th, 2025, accruing interest at a floating rate equivalent to the private Badlar rate plus a cut-off margin of 2%. They will amortize their principal in four payments, to be made in the last four quarters.
On July 22nd, 2022, FIX SCR S.A. locally rated Class V Notes “A-(arg)”. These Notes were admitted for listing in Bolsas y Mercados Argentinos S.A. and authorized for trading at Mercado Abierto Electrónico S.A.
In the issuance of the Class V Notes, Banco Patagonia S.A. acted as organizer, while Banco de Galicia y Buenos Aires S.A.U., Banco Patagonia S.A., SBS Trading S.A. and Nación Bursátil S.A. acted as placement agents. All parties turned to Beccar Varela, whose team was led by Luciana Denegri, assisted by María Victoria Pavani, María Inés Cappelletti, Julián Ojeda, María Belén Tschudy, and Tomás Cappellini.
INVAP S. E. is an Argentine high-tech company dedicated to the design, integration, and construction of plants, equipment, and devices in highly complex areas such as nuclear energy, space technology, industrial technology, and medical and scientific equipment.
