Beccar Varela advises on the issuance of Banco de Galicia’s Class IX and Class X Notes.
PRESS RELEASE
Buenos Aires, August 24th, 2021. On August 20th, Banco de Galicia y Buenos Aires S.A.U. issued Class IX and Class X Notes, simple, non-convertible into shares, unguaranteed, and payable in Pesos, for a total nominal amount of AR$2,975,640,275. The issuance was carried out under the Regular Issuer Regime and the company’s Global Program of up to US$2,100,000,000.
Class IX Notes were issued for a nominal amount of AR$1,625,968,275. Maturing on August 20th, 2022, they will accrue interest at a floating rate, equivalent to the private Badlar rate plus a cut-off margin of 3%, and will amortize its principal in one payment on the maturing date.
Class X Notes were issued for a nominal amount of AR$1,349,672,000 and will mature on May 20th, 2022. This class will accrue interest at an annual fixed rate of 41% and will amortize its principal in a single payment on the maturing date.
On August 12th, FIX SCR S.A. locally rated the Notes “A1+(arg)”. In addition, they were admitted for listing on Bolsas y Mercados Argentinos S.A. and authorized for trading in Mercado Abierto Electrónico S.A.
In the issuance, Banco de Galicia y Buenos Aires S.A.U. acted as issuer and placement agent, and was advised by Beccar Varela’s team, led by Luciana Denegri with the participation of María Victoria Pavani, María Inés Cappelletti and Julián Ojeda.