Beccar Varela advises on Silo Chico’s first Notes Issuance under CNV’s SME Guaranteed Regime.
Buenos Aires, 15 September 2023. On September 8th, Silo Chico S.A. issued its first Notes under the SME Simplified and Guaranteed Regime of the Argentine Securities and Exchange Commission (CNV, for its acronym in Spanish). Silo Chico Series I Notes, denominated in US Dollars, to be integrated and payable in Pesos in Argentina, were issued for a total nominal amount of US$3,000,000 and will accrue interest at an annual fixed rate of 2.0%.
Furthermore, the Notes will amortize its principal in seven payments, structured as follows: the first six, equivalent to 14,25% of its capital each one, at 12 (twelve), 18 (eighteen), 24 (twenty-four), 30 (thirty), 36 (thirty-six) and 42 (forty-two) months; and the seven payment, equivalent to the remaining 14,50% of its capital, on the maturing date, on September 8, 2027.
The Notes were admitted for listing on Bolsas y Mercados Argentinos S.A., and authorized for trading at Mercado Abierto Electrónico S.A.
In this issuance, Banco de Galicia y Buenos Aires S.A.U. acted as organizer, placement agent and guarantee entity.
Beccar Varela’s team, led by partner Luciana Denegri and comprised of associates María Belén Tschudy and Julián Ojeda, acted as deal legal counsel.