Beccar Varela advises Tarjetas del Mar S.A. on Class II notes issuance
June, 2017 - Buenos Aires, Argentina
June 9th, 2017. Beccar Varela advised Tarjetas del Mar S.A. on the Class II notes issuance, carried out on May 17th in two series under the company’s global program for short, medium and long-term notes for a maximum nominal value of up to US$75 million (or its equivalent in other currencies). Series I notes were issued at a nominal value of AR$137.524.742, while Series II at a nominal value of AR$172.851.843.
The maturity date of Series I notes (denominated in Argentine Pesos) will take place on November 17th, 2018, accruing interest at a floating rate (Badlar + cut-off margin of 3.25%). The maturity date of Series II notes (also denominated in Argentine Pesos) will take place on May 17th, 2020, accruing interest at a floating rate (Badlar + cut-off margin of 3.48%).
Fix SCR Agente de Calificación de Riesgo S.A. has rated both notes series “A+(arg)”. These notes have been listed on The Buenos Aires Stock Exchange (Bolsa de Comercio de Buenos Aires) and have been admitted to trading on Mercado Abierto Electrónico S.A. and Bolsas y Mercados Argentinos S.A.
In this transaction, Banco de Galicia y Buenos Aires S.A. acted as organizer, creator agent, and placement and settlement agent, while Banco Itaú Argentina S.A. acted as organizer and placement agent.
Deal counsel
Estudio Beccar Varela: team led by partner Javier L. Magnasco, junior partner Luciana Denegri and associates Felipe L .M. Videla and José M. Krasñansky.
