Beccar Varela advises on Agrofina’s Class XII Notes Issuance.
July, 2023 - Buenos Aires, Argentina
Buenos Aires, July 10th, 2023. On June 30th, Agrofina S.A. issued Class XII Notes — simple, non-convertible into shares, denominated in U.S. Dollars—, to be integrated with either cash in Argentine Pesos or promissory notes, and payable in Argentine Pesos. The issuance was made under the company’s Global Program of up to US$80,000,000.
Class XII Notes were issued for a nominal amount of US$14,000,000; they will mature on June 30th, 2025, and will accrue interest at a fixed nominal annual rate of 3%, with quarterly interest payments, and a capital repayment in three quarterly installments starting from December 30th, 2024.
The Notes have been listed on Bolsas y Mercados Argentinos S.A. and authorized for trading at Mercado Abierto Electrónico S.A. On June 26th., FIX SCR S.A. locally rated them “A-(arg)” with a stable outlook.
Cohen S.A., Invertir en Bolsa S.A., Latin Securities S.A., and SBS Trading S.A. acted as placement agents and, like the Issuer, turned to Beccar Varela’s team, led by Luciana Denegri, assisted by Julián Ojeda and Franco Scervino.
