SEPTEMBER 28, 2022

Beccar Varela and Peréz Alati, Grondona, Benites & Arntsen advise on Hijos de Salvador Muñoz’s second Notes’ issuance.


On September 28th, 2022, Hijos de Salvador Muñoz S.A. (“Salvita” or “HSM”, indistinctly) issued in the local capital market Class II-Series I Notes, denominated in U.S. Dollars, to be integrated and payable in Pesos, for a total nominal amount of US$10,000,000 (the “Class II Series I Notes”). The issuance of Class II Series I Notes was made under the company’s Global Program of up to US$50,000,000.

Class II-Series I Notes, maturing on September 28th, 2024, will accrue no interest and will amortize its principal in three quarterly payments, the first for 33% of the principal to be realized on March 28th, 2024, the second for 33% of the principal to be realized on June 28th, 2024, and the last for the remaining 34% of the principal to be realized in the maturity date.

Class II-Series I Notes have been locally rated “A-(arg)” by FIX SCR S.A., admitted for listing in Bolsas y Mercados Argentinos S.A., and authorized for trading at Mercado Abierto Electrónico S.A.

In this issuance, Hijos de Salvador Muñoz S.A. acted as issuer and was advised by Beccar Varela’s team, led by Luciana Denegri with the participation of María Victoria Pavani, Julián Ojeda, María Belén Tschudy and Tomás Cappellini. Allaria Ledesma & Cia S.A., Banco de Galicia y Buenos Aires S.A.U., Banco Itaú Argentina S.A., Banco Santander Argentina S.A., Banco Supervielle S.A., Macro Securities S.A., and Zulu Valores S.A. acted as placement agents, and Supervielle Agente de Negociación S.A.U., Itaú Valores S.A., and Galicia Securities S.A. acted as sub-placement agents and were advised by Pérez Alati, Grondona, Benites & Arnsten team, led by Diego Serrano Redonnet with the participation of Alejo Muñoz de Toro and Adriana Tucci.