Exchange Offer and Consent Solicitation of Albanesi Group for U$S 325,395,255
Counsel to Generación Mediterránea S.A. and Central Térmica Roca S.A. in the co-issuance of 9.625% Class X Notes for U$S 325,395,255 due December 1, 2027 (the “Companies”) (the “New Notes”). The transaction was launched on October 22, 2021 and settled on December 1, 2021.
Class X Notes were issued by the Companies in exchange of their existing instruments: (i) 9.625% Senior Notes due 2023 issued by the Companies for U$S 336,000,000 (the “Existing Notes”); and (ii) certain existing loans for an aggregate outstanding principal amount of U$S 51,217,055 (the “Private Debt” and, together with the Existing Notes, the “Existing Instruments”). The issuance of the New Notes was carried out in accordance with General Resolution No. 861/2020 issued by the Argentine Securities Commission (Comisión Nacional de Valores).
The Bank of New York Mellon acted as New Notes Trustee, Paying Agent, Co-Registrar and Transfer Agent; D.F. King & Co. acted as Information and Exchange Agent; Citigroup Global Markets Inc., J.P. Morgan Securities LLC and UBS Securities LLC acted as Dealer Managers and Consent Solicitation Agents; and SBS Trading S.A., Banco de Servicios y Transacciones S.A. and Sociedad de Bolsa Centaurus S.A. acted as local Placement Agents.
Legal Advice in Petrolera Aconcagua Energía S.A.’s Third PyME CNV Notes Issuance
Counsel to Petrolera Aconcagua Energía S.A. issuance of Class V PYME CNV Notes for U$S 5,948,315 under the Globe Program of PYME CNV Notes for an amount of up to $ 1,500,000,000.
Class V Notes were issued for the purpose of carrying out investments in assets located in Argentina, including investments in production infrastructure and oil and gas developments.
Banco de Servicios y Transacciones S.A. acted as arranger and placement agent, and Banco Mariva S.A., SBS Trading S.A., Consultatio Investments S.A., Allaria Ledesma & Cía. S.A., and AdCap Securities Argentina S.A. acted as placement agents.
Legal Advice in the Issuance of Notes of CT Barragán S.A. for US$96,000,000
Counsel to Banco de Galicia y Buenos Aires S.A.U., Banco Santander Río S.A., Industrial and Commercial Bank of China (Argentina) S.A.U. and HSBC Bank Argentina S.A. as arrangers and placement agents, and also to Invertir en Bolsa S.A., SBS Trading S.A., Balanz Capital Valores S.A.U., Banco de la Provincia de Buenos Aires, BACS Banco de Crédito y Securitización S.A., Banco de Servicios y Transacciones S.A., Banco Hipotecario S.A., Puente Hnos. S.A., Banco Mariva S.A., Industrial Valores S.A., Negocios Financieros y Bursátiles S.A., AR Partners S.A., BNP Paribas Sucursal Buenos Aires, Banco Patagonia S.A., TPCG Valores S.A.U. and Macro Securities S.A. as placement agents, in the issuance of CT Barragán S.A.’s 0% Series 4 Notes for US$96,000,000 due November 26, 2024. The Series 4 Notes were issued on November 26, 2021 under the Global Notes Program for an amount of up to US$200,000,000. The Serie 4 Notes have a personal guarantee, subject to a resolutory condition granted by YPF S.A. and Pampa Energía S.A.
Banco de Galicia y Buenos Aires S.A.U., Banco Santander Río S.A., Industrial and Commercial Bank of China (Argentina) S.A.U. and HSBC Bank Argentina S.A. acted as arranger and placement agents, and Invertir en Bolsa S.A., SBS Trading S.A., Balanz Capital Valores S.A.U., Banco de la Provincia de Buenos Aires, BACS Banco de Crédito y Securitización S.A., Banco de Servicios y Transacciones S.A., Banco Hipotecario S.A., Puente Hnos. S.A., Banco Mariva S.A., Industrial Valores S.A., Negocios Financieros y Bursátiles S.A., AR Partners S.A., BNP Paribas Sucursal Buenos Aires, Banco Patagonia S.A., TPCG Valores S.A.U. and Macro Securities S.A. as placement agents of Series 4 Notes. Banco de Galicia y Buenos Aires S.A.U. also acted as Settlement Agent for Series 4 Notes.
Legal Advice in Automotores Pampeanos S.A.’s First PyME CNV Notes Issuance
Counsel to Automotores Pampeanos S.A. in the issuance of Class I PYME CNV Notes for $ 70,000,000 under the Global Program of PYME CNV Notes for an amount of up to $ 900,000,000.
The Notes were issued to build a new Volkswagen dealership in the city of General Pico, La Pampa province.
Banco de Servicios y Transacciones S.A. acted as arranger and placement agent of the Notes.
Legal Advice in the Issuance of Notes of Albanesi Group for US$83,227,057
Counsel to Generación Mediterránea S.A. and Central Térmica Roca S.A. in the co-issuance of 6% Class XI Notes for US$38,654,809 due November 12, 2024 and of 4.6% Class XII Notes for 48.161.545 UVAs (Unidades de Valor Adquisitivo) due November 12, 2024. Class XI Notes and Class XII Notes were issued under the Global Notes Program for an amount of up to US$700,000,000. A portion of Class XI Notes were issued in exchange of Class V Notes; Class VII Notes; and Class VIII Notes, and a portion of Class XII Notes were issued in exchange of Class VIII Notes.
SBS Capital S.A. and Banco de Servicios y Transacciones S.A. acted as arrangers, and SBS Trading S.A., Banco de Servicios y Transacciones S.A., Facimex Valores S.A., Banco Hipotecario S.A., Balanz Capital Valores S.A.U., Sociedad de Bolsa Centaurus S.A., AdCap Securities Argentina S.A., BACS Banco de Crédito y Securitización S.A., Banco de la Provincia de Buenos Aires, Macro Securities S.A., Allaria Ledesma & Cía. S.A. and Banco Supervielle S.A. acted as placement agents of Class XI Notes and Class XII Notes.
Issuance of PyME CNV Guaranteed Series I Notes of Agrofin Agrocommodities S.A. for US$1,000,000
Counsel to Agrofin Agrocommodities S.A. in the issuance of the PyME CNV Guaranteed Series I dollar linked Notes for US$1,000,000 with an interest rate of 0,75% due on April 6, 2023.
Banco Supervielle S.A., acted as arranger, placement and security agent of Series I Notes.
Futuros del Sur S.A., acted as placement agent of Series I Notes.
More benefits for our team: New maternity & paternity policy
We officially launched our new maternity and paternity policy aimed to grant more benefits to the members of the Firm during their first years of parenthood. This new policy looks to support those parents that work at the Firm in their professional careers and accompany them to boost their possibilities to the top.
The new benefits' policy is based in three main phases:
- Immediately after the birth or adoption of a child: An additional month to the mothers´ -or primary caretaker- paid leave, aside from the three months granted by law and without detriment of the leave of absence option. Two weeks paid leave to the partner of the primary caretaker.
- Soft landing during the child´s first two years: An ad hoc system to grant work flexibility combining remote work and office time, and a flexible schedule to take care of unexpected daily family situations.
- From the 2nd year until the end of elementary school: Wide schedule flexibility to attend children's needs (education, health, etc) and contingencies.
- Pumping room: The incorporation of an exclusive space within TRSyM offices with the adequate hygiene and comfort conditions to promote breastfeeding.
Marcelo R. Tavarone, Managing Partner, said regarding this new measure that "we are very happy to present this new policy that will support our team during their parenthood, aimed to boost their possibilities while promoting the relationship with their children, parenting, and preserving their personal wellbeing."
Juan Pablo Bove, member of the Firm's Administration Committee, stated that "the policy is focused in diversity, as it erases traditional 'mom' and 'dad' roles and is orientated to the primary caretaker of a child and to those who accompany them, without focusing in specific genre matters that aren't part of TRSyM's vision."
Read here the complete document with the terms of this policy.
Legal counsel in the successful restructuring of the Province of La Rioja’s notes issued under foreign law for USD 300,000,000
Counsel of BofA Securities, Inc. as consent solicitation agent in the restructuring notes issued by the Province of La Rioja in the international capital markets for the principal amount of USD 300,000,000 at a rate of 9.750% due in 2025. The Province received the consent from holders representing 98.61% of the notes’ outstanding principal amount to implement certain amendments to its terms, thus reaching the highest acceptance rate for sovereign restructurings. As a result of the successful consent solicitation, the indenture governing the notes was amended to extend the notes’ maturity date, modify the interest rate and the amortization schedule of the notes, among other amendments.
Legal Counsel to Santista Têxtil Ltda. in the sale of a minority stake in Santista Argentina S.A.
We advised the Brazilian manufacturer Santista Têxtil Ltda. in the the sale of a minority stake in its local subsidiary, Santista Argentina S.A., to businessmen Carlos and José Muia. Transaction was closed on August 5, 2021.
Santista Têxtil Ltda. is a company that leads the Latin American market, owner of Santista Argentina S.A., with more than 95 years of presence in the country, developing two business units: Santista Jeanswear, leader in the production of differentiated denim and Kolor, and Santista Workwear, leader in the production and sale of fabrics for workwear with its OMBU/Grafa70 brands and its “Garantía Total” system.
Legal Advice in the Issuance of Notes of Molinos Agro S.A. for US$70,000,000
Counsel to Molinos Agro S.A. in the issuance of 1.00% Class III Notes for US$33,539,700 due September 3, 2023 and 2.49% Class IV Notes for US$36,460,300 due September 3, 2024, both classes were issued under the Global Notes Program for an amount of up to US$150,000,000.
Banco Santander Río S.A., Banco De Galicia y Buenos Aires S.A.U. and Industrial and Commercial Bank of China (Argentina) S.A.U. acted as arranger and placement agents of Class III and Class IV Notes.