Beccar Varela advises on Newsan’s Class 20 Notes Issuance.
February, 2024 - Buenos Aires, Argentina
Buenos Aires, February 15th, 2024. On February 1st, Newsan S.A. issued Class 20 Notes, whose placement was made for a total nominal amount of AR$12,000,000,000,000 —AR$7,296,326,489 paid in cash and AR$4,703,673,511 paid with Class 14 Notes—. The issuance was carried out under the global program for the issuance of short, medium, and long-term negotiable obligations for a nominal amount of up to US$300,000,000 authorized by the National Securities Commission (CNV).
The Notes will mature on February 1st, 2025, and will accrue interest at a variable rate equivalent to Private Badlar Rate plus a cut-off margin of 4% n.a. In addition, 100% of the principal will be amortized on their maturity date.
On January 25th, 2024, Moody’s Local AR Agente de Calificación de Riesgo S.A. rated Class 20 Notes due 2025 “ML A-1.ar”, authorized for trading at Mercado Abierto Electrónico S.A. and at Bolsas y Mercados Argentinos S.A.
In Class 20 Notes issuance, Newsan S.A. acted as issuer and placement agent, while Macro Securities S.A.U, Industrial Valores S.A, Banco de Servicios y Transacciones S.A, Banco Comafi S.A, Banco BBVA Argentina S.A, Industrial and Commercial Bank of China (Argentina) S.A.U, Banco de la Provincia de Buenos Aires, Banco Hipotecario S.A, Banco Supervielle S. A, Latin Securities S.A, Banco de la Provincia de Córdoba S.A, Banco Mariva S.A, BACS Banco de Crédito y Securitización S.A, Facimex Valores S.A, and Max Capital S.A. acted as placement agents.
All parties involved in the issuance turned toBeccarVarela’s team, led by Luciana Denegri, who has been assisted by María Victoria Pavani, Julián Ojeda, and Ezequiel Cubilla Mascolo.
