Estudio Beccar Varela Advises Agrofina on Issuance of Notes
March, 2017 - Buenos Aires, Argentina
Estudio Beccar Varela advised Agrofina S.A. on the issuance of notes Class V and VI. Agrofina successfully completed this issuance, carried out in two Classes under the firm’s Global Program of simple notes (non-convertible into shares) for a maximum nominal value of up to US$ 60 million (or its equivalent in other currencies).
Class V notes were issued at a nominal value of AR$331.696.229, with maturity date on 16 February 2019, accruing interest at a floating rate (Badlar + cut-off margin of 4.94%). Class VI notes were issued at a nominal value of US$ 4.378.944, with maturity date on 16 February 2019, accruing interest at a fixed rate of 7% per annum.
In this transaction, closed 17 February 2017, FIRST Corporate Finance Advisors S.A. (“FIRST”) and SBS Capital S.A. (“SBS Capital”) acted as organizers; Balanz Capital Valores S.A. (“Balanz Capital Valores”), FIRST Capital Markets S.A. (“FCM”), Provincia Bursátil S.A. (“Provincia Bursátil”) and Puente Hnos. S.A. (“Puente”) acted as organizers and placement agents; and SBS Trading S.A. (“SBS Trading”) and SBS Trade S.A. (“SBS Trade”) as placement agents.
Fix SCR S.A. has locally rated both classes of notes “BBB+(arg)”; the CNV authorized their public offering on February 8th, 2017. These notes have been listed on The Buenos Aires Stock Exchange (Bolsa de Comercio de Buenos Aires) and have been admitted to trading on the Mercado Abierto Electrónico S.A.
Deal counsel: Estudio Beccar Varela (junior partner Luciana Denegri and associates María Victoria Pavani and Franco Tonelli).
