Beccar Varela advises on the issuance of Class XVIII Notes for AR$23,496,247,000 and Class XIX Notes for US$97,749,482 by Banco Galicia
December, 2024 - Buenos Aires, Argentina
On December 4, 2024, Banco de Galicia y Buenos Aires S.A.U. (“Banco Galicia”) issued (i) Class XVIII simple, non-convertible, unsecured notes, denominated, subscribed, and payable in Argentine Pesos (the “Class XVIII Notes”); and (ii) Class XIX simple, non-convertible, unsecured notes, denominated, subscribed, and payable in U.S. Dollars in Argentina (the “Class XIX Notes”). The issuance was carried out under the Frequent Issuer Regime of the CNV, as part of the Global Notes Program for up to US$1,000,000,000 (or its equivalent in other currencies, units of measure, and/or value).
The Class XVIII Notes were issued for a nominal value of AR$23,496,247,000 and will mature on April 30, 2025. These Notes accrue interest at an effective monthly rate of 3%, with both interest and principal payable in a single installment on the maturity date, April 30, 2025.
The Class XIX Notes were issued for a nominal value of US$97,749,482 and will mature on June 4, 2025. These Notes accrue interest at a fixed nominal annual rate of 4.25%, payable quarterly. The first interest payment date is March 4, 2025, and the second is June 4, 2025. The principal will be repaid in a single installment on the maturity date, June 4, 2025.
The Notes were locally rated “A1+(arg)” by FIX SCR S.A. on November 25, 2024, and have been authorized for listing and trading on Mercado Abierto Electrónico S.A. and Bolsas y Mercados Argentinos S.A.
Banco de Galicia y Buenos Aires S.A.U., as the issuer, also acted as organizer and placement agent, while Galicia Securities S.A.U. and Inviu S.A.U. acted as placement agents.
All parties were advised by Beccar Varela’s team led by Luciana Denegri, with the participation of María Victoria Pavani, María Carolina Pilchik, Martina Puntillo, and Carlos Nicolás Saúl Lucero.·
