We advised the placement agents in the international issuance of Notes by Banco de Galicia y Buenos Aires S.A.U. for US$ 325,000,000
On October 10, 2024, Banco de Galicia y Buenos Aires S.A.U. (the “Issuer”) issued Class XVI Notes (the “Notes”), simple, non-convertible into shares, unsecured, denominated in U.S. Dollars, to be subscribed and paid in U.S. Dollars abroad, with a nominal value of US$ 325,000,000. The international issuance was made under the CNV Frequent Issuer Regime.
The Notes will mature on October 10, 2028, when the 100% of the principal will be amortized. The Notes bear interests at a fixed nominal annual rate of 7.750%, payable semi-annually.
The Notes are not locally rated. Internationally, Moody’s Investors Service, Inc. rated them “Caa3”, and Standard & Poor’s rated them “CCC” on September 26, 2024.
The Notes are authorized for listing on Bolsas y Mercados Argentinos S.A., Mercado Abierto Electrónico S.A. in Argentina, and in the Singapore Stock Exchange.
Issuer: Banco de Galicia y Buenos Aires S.A.U.
International Placement Agents: BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Standard Chartered Bank.
Local Placement Agent: Banco de Galicia y Buenos Aires S.A.U.
Legal Advisors to the Placement Agents:
Bruchou & Funes de Rioja‘s Banking & Capital Markets Department advised through a team led by partner Alejandro Perelsztein, with the participation of associates Ramón Augusto Poliche, Quimey Waisten and Agustín Caputo.
Milbank: team led by the partner Marcelo Mottesi, with the participation of the associates Gonzalo Guitart, Agustín Videla and Pamela Molina.
Legal Advisors to the Issuer:
Beccar Varela: team led by partners Luciana Denegri and Pedro Silvestri, with the participation of associates María Victoria Pavani, Sofía Gallo, Julián Ojeda, and María Carolina Pilchik.
Gibson Dunn: team led by Tomer Pinkusiewicz, with the participation of associates Marie Kwon and Amaranta Chuquihuara.
In-house: Esteban Tresserras, Enrique Cullen, Martín Berrotarán, Pilar Domínguez Pose, and Fiorella Ascenso Sanabria.