We advised Genneia and the placement agents on the issuance of Green Notes for US$50,801,537

New Deal - November 25, 2022

On November 11th, 2022, Genneia S.A. (“Genneia”) issued Notes for a nominal value equivalent to US$50,801,537: (i) Class XXXV Additional Notes denominated in U.S. Dollars, subscribed and payable in Argentine Pesos at the exchange rate established in the offering documents (dollar-linked); and (ii) Class XXXVII Notes denominated in U.S. Dollars, subscribed and payable in Argentine Pesos at the exchange rate established in the offering documents (dollar-linked) (jointly, the “Notes”).

The Notes comply with (i) the four main components of the ICMA’s (International Capital Market Association) Green Bond Principles 2018 (GBP), (ii) the Guidelines for the Issuance of Social, Green and Sustainable Negotiable Securities in Argentina, as set forth in the Rules of the National Securities Commission, and (iii) the Guide to Social, Green and Sustainable Bonds at the Bolsas y Mercados Argentinos S.A. Panel (“BYMA”). In addition, Genneia has a Second Party Opinion issued by Sustainalytics, an external reviewer, confirming that the Genneia’s Green Bond Framework is impactful and aligns with the four main components of the GBP.

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Class XXXV Additional Notes will be due on December 24th, 2024. Since the unamortized capital of the Class XXXV Notes will accrue interest at a fixed interest rate of 0.00%, no interest will be paid, and they will amortize the capital in one single instalment on the due date.

On the other hand, Class XXXVINotes will be due 48 months after the issuance date, that is, on November 11th, 2026. Since the unamortized capital of the Class XXXV Notes will accrue interest at a fixed interest rate of 0.00%, no interest will be paid, and they will amortize the capital in three quarterly instalments starting May 11th, 2026.

Both Classes of Notes have been admitted for listing in the SVS Panel of BYMA, and authorized for its negotiation in the Mercado Abierto Electrónico S.A.

Moody´s Agente de Calificación de Riesgo. rated the Notes as “ AA-.ar”.

Under this issuance, (i) Banco Macro S.A. acted as arrangement agent; and (ii) Macro Securities S.A.U., BACS Banco de Crédito y Securitización S.A., Balanz Valores S.A.U., Banco BBVA Argentina S.A., Banco Hipotecario S.A., Banco Patagonia S.A., Banco Santander Argentina S.A., Facimex Valores S.A., Max Capital S.A. y TPCG Valores S.A.U., acted as placement agents ((i) and (ii) jointly, the “Placement Agents”).

This issuance is part of Bruchou’s Climate Action and Sustainable Business Platform, which has been created to meet the growing demand from its clients on an issue that occupies an expanding space in the global, regional and local corporate agenda. Bruchou considers that urgent climate action is needed to reduce carbon emissions, and to support its clients’ efforts in this regard, in line with the goals set by the UN’s Paris Agreement. In that sense, Bruchou has participated in almost all green bond issues on the local and international market. For more information see: [LINK AL PR].

Deal Counsel:

Bruchou & Funes de Rioja: counseled Genneia and the Placement Agents through a team led by partner José María Bazán, and associates Manuel Etchevehere and Branko Serventich.

In-house counsel: Eduardo Segura, Carlos Lovera and Matías Julian Fraga.