We advised in the first Notes issuance of a mining company in the Argentine capital market
TCA Tanoira Cassagne (“TCA”) advised Minera Exar S.A., and Bruchou & Funes de Rioja advised Banco Santander Argentina S.A., Industrial and Commercial Bank of China (Argentina) S.A.U., Banco de Galicia y Buenos Aires S.A.U., Banco BBVA Argentina S.A., Macro Securities S.A.U., Banco Mariva S.A., Banco Supervielle S.A., Balanz Capital Valores S.A.U., Puente Hnos S.A., Allaria S.A., Invertironline S.A.U., TPCG Valores S.A.U., Global Valores S.A., Max Capital S.A., Neix S.A., Banco Comafi S.A. and Cohen S.A. as placement agents, in the issuance of Series I Notes for a nominal amount of US$50,000,000, at a 8.00% rate denominated and payable in US Dollars in Argentina, maturing on November 11th, 2027.
The Series I Notes were listed on MAE and BYMA.
EXAR is an Argentine company dedicated to the development and production of lithium carbonate in the Salar Cauchari-Olaroz, where the ‘Cauchari-Olaroz Plant’ is located, in the province of Jujuy, Argentina.
The company is currently in the regime entry phase and has the installed capacity to reach a production of 40.000 tonnes per year of battery grade lithium carbonate.
This milestone is a turning point for the mining industry, providing new investment opportunities and setting a precedent for future companies in the sector.
Legal Counsel of the Issuer: TCA through a team led by Partners Alexia Rosenthal, Jaime Uranga and Ignacio Criado Diaz; and Associates: Carolina Mercero, Teófilo Trusso and Stefanía Lo Valvo.
Legal Counsel to the Placement Agents: Bruchou & Funes de Rioja’s Banking & Capital Markets Department through a team led by Partner Alejandro Perelsztein; and Associates Ramón Augusto Poliche, Branko Serventich and Gonzalo Vilariño.