We advised the arrangers and placement agents on Arcor S.A.I.C.’s issuance of Notes for AR$22,000,000,000
Bruchou & Funes de Rioja and Muñoz de Toro Abogados acted as legal advisors in the issuance of ARCOR S.A.I.C., one of the main food produces in Argentina, of its Series 19 Notes for an amount of AR$ 8,459,677,423 (the “Series 19 Notes”) and its Series 20 Notes for an amount of AR$ 13,540,322,577 (the “Series 20 Notes” and together with the Series 19 Notes, the “Notes”), under the Arcor´s MTN Program for the Issuance of Notes for an amount of up to US$ 1,200,000,000 (or its equivalent in other currencies or units of value).
The Series 19 Notes will be due after 12 months as from its issuance date on May 12, 2024, and will bear interest at a variable annual rate equal to the sum of the Badlar Rate plus the Applicable Margin of 0.99%, and will be repaid in in a single payment due on the Series 19 Notes due date. Fix Argentina and Moody’s Argentina have rated the Series 19 Notes as “A+1(arg)” and “ML A-1.ar”, respectively. The Series 20 Notes will be due after 24 months as from its issuance date on May 12, 2025, and will bear interest at a variable annual rate equal to the sum of the Badlar Rate plus the Applicable Margin of 3,95%, and will be repaid in a single payment due on the Series 20 Notes due date. Fix Argentina and Moody’s Argentina have rated the Series 20 Notes as “AAA(arg)” and “AA.ar”, respectively.
The Notes have been admitted for listing on Bolsas y Mercados Argentinos S.A. and authorized for trading on the Mercado Abierto Electrónico S.A., being eligible by Euroclear Bank S.A/N.V.
Banco de Galicia y Buenos Aires S.A.U., Banco Santander Argentina S.A., Banco BBVA Argentina S.A. and Banco Patagonia S.A. acted as arrangers and placement agents of the issuance (the “arrangers and placement agents“), and Macro Securities S.A.U., Banco Itaú Argentina S.A., Balanz Capital Valores S.A.U., Facimex Valores S.A., Puente Hnos. S.A., SBS Trading S.A., TPCG Valores S.A.U. and BACS Banco de Crédito y Securitización S.A. acted as local placement agents of the issuance (the “local placement agents“).
Legal advisors to the Arrangers and Placement agents:
Bruchou & Funes de Rioja team led by Alejandro Perelsztein with the participation of Leandro E. Belusci, Pedro Azumendi and Facundo Martín Suárez Loñ.
Legal advisors to Arcor S.A.I.C.:
Muñoz de Toro Abogados: team led by Ricardo Muñoz de Toro with the participation of Laura Gomes and Guillermina Muñoz de Toro.