Beccar Varela advises on Banco Galicia’s Class XIV Notes’ issuance
September, 2024 - Buenos Aires, Argentina
On August 8, 2024, Banco de Galicia y Buenos Aires S.A.U. (“Banco Galicia”) issued Class XIV Notes (the “Notes”), simple, non-convertible into shares, unsecured, denominated, subscribed, and payable in Pesos, with a nominal value of AR$35,384,000,000. The issuance was carried out under the CNV Frequent Issuer Regime.
The Notes, maturing on February 8, 2025, accrue interest at a variable rate of BADLAR plus 4.5% margin. Additionally, 100% of the principal will be amortized on the maturity date.
The Notes have been locally rated as “A1+(arg)” by FIX SCR S.A. on August 2, 2024, and were authorized for trading on the Mercado Abierto Electrónico S.A. and listed on Bolsas y Mercados Argentinos S.A.
In the issuance of the Class XIV Notes, Banco de Galicia y Buenos Aires S.A.U. acted as issuer and placement agent, while Galicia Securities S.A. and Inviu S.A.U. acted as placement agents. All parties involved in the transaction turned to Beccar Varela’s team led by Luciana Denegri, with the participation of María Victoria Pavani, Julián Alejandro Ojeda, Martina Puntillo, and Carlos Nicolás Saúl Lucero.
