We advised 360 Energy Solar on the issuance of its Class 5 notes for US$15,000,000, classified as Green Bonds
Within the scope of the Global Notes Program of up to US$200,000,000 (or its equivalent in other currencies or other unit value) (the “Program”), Bruchou & Funes de Rioja advised 360 Energy Solar S.A., -one of the pioneering companies in the solar energy sector and one of the leaders in renewable resources in Argentina, focused on the development, technological research, commercialization, construction, operation and maintenance of solar parks-, and Tavarone, Rovelli, Salim & Miani advised Banco de Servicios y Transacciones S.A., as arranger, settlement and placement agent, Banco de Galicia y Buenos Aires S.A.U., Banco BBVA Argentina S.A., and Banco de Valores S.A. as arrangers (“Arrangers”) and Banco de Servicios y Transacciones S.A., Banco de Galicia y Buenos Aires S.A.U., Banco BBVA Argentina S.A., Banco de Valores S.A., Industrial Valores S.A., Allaria S.A., Balanz Capital Valores S.A.U., Invertir en Bolsa S.A., Banco Comafi S.A., PP Inversiones S.A., BACS Banco de Crédito y Securitización S.A., Banco Patagonia S.A., Adcap Securities Argentina S.A., Deal S.A., Banco CMF S.A. y Banco de la Provincia de Buenos Aires as placement agents (together “Placement Agents”), in the successful issuance of: the Series 5 Notes for a nominal amount of US$15.000.000 (dollars fifteen million) which qualified as Green Bonds (indistinctively, the “Series 5 Notes” or the “Notes”), with a fixed annual rate of 8.75% and maturing on September 5, 2027. The proceeds from the placement will be used to: (i) finance the construction, installation, commissioning, operation and maintenance of photovoltaic solar parks and storage systems related to the Eligible Green Project Portfolio; (ii) integration of working capital; and (iii) integration of capital contributions in controlled or related companies. The Notes are denominated and payable in U.S. dollars in Argentina.
The Notes were issued in line with the four main components of the International Capital Market Association’s Green Bond Principles, following the provisions of the ‘Guidelines for the Issuance of Social, Green and Sustainable Marketable Securities in Argentina and the Social, Green and Sustainable Bonds Guide of the Argentine Stock Exchange and Markets Panel (“ByMA”). Thus, in the green bond evaluation carried out by FIX SCR S.A., the Notes have been qualified as “BV1(arg)”.
The Notes have been authorized for its listing on ByMA’s Green Panel and for its negotiation on Mercado Abierto Electrónico S.A. (“MAE”).
Legal counsel to 360 Energy Solar S.A.
Bruchou & Funes de Rioja: Partner Alejandro Perelsztein and associates Leandro Belusci, Sofía Maselli, Gonzalo Vilariño, and Marco Haas.
360 Energy S.A. in-house legal counsel: Lucrecia Silvestroni and Evelina Anderson.
Legal counsel to the Arrangers and the Placement Agents
Tavarone, Rovelli, Salim & Miani Abogados: Partner Marcelo Tavarone and associates Ximena Sumaria, Eduardo Cano, and Catalina Scazziota.
