Beccar Varela advises Tarjeta Naranja on the issuances of Additional Class XLIX Series II and Class L Notes.
Buenos Aires, November 17th, 2021. On November 10th, Tarjeta Naranja S.A. issued Additional Class XLIX Series II Notes, payable in Argentine pesos, for a total nominal amount of AR$426,343,699, and Class L Notes, payable in Argentine pesos, for a total nominal amount of AR$4,050,000,000. These notes’ issuances were made under the company’s Global Program for the issuance of short, medium, and long-term notes for up to US$1,000,000,000.
Additional Class XLIX Serie II Notes, maturing on August 13th, 2023, will accrue interest at a floating rate, equivalent to the private Badlar rate plus a cut-off margin of 7.24% and will amortize its principal in one payment on the due date.
Class L Notes will mature on November 10th, 2022, will accrue interest at a floating rate, equivalent to the private Badlar rate plus a cut-off margin of 5.00%, and will amortize its principal in one payment on the maturing date.
Additional Class XLIX Serie II Notes has maintained its rate “AA-(arg)”, while Class L Notes have been locally rated “A1(arg)”, according to FIX SCR’s report dated November 4th, 2021. These Notes were admitted for listing on Bolsas y Mercados Argentinos S.A. and authorized for trading at Mercado Abierto Electrónico S.A.
In these issuances, Banco de Galicia y Buenos Aires S.A.U. acted as organizer and placement agent, while Banco Comafi S.A., Banco Itaú Argentina S.A., Banco Patagonia S.A., Banco Santander Rio S.A., Itaú Valores S.A., Industrial Valores S.A., and Macro Securities S.A. acted as placement agents (the “placement agents”).
Tarjeta Naranja S.A. and Galicia y Buenos Aires S.A.U. turned to Beccar Varela’s team, led by Luciana Denegri with participation of María Victoria Pavani, María Inés Cappelletti and Julián Ojeda. The Placement Agents turned to Pérez Alati, Grondona, Benites & Arnsten’s team, led by Diego Serrano Redonnet and also comprised of associates Alejo Muñoz de Toro and Adriana Tucci.