Beccar Varela advises on Series I Notes’ issuance of Centro Desarrollo Agrícola.
Buenos Aires, December 12th, 2023. On December 5th, Centro Desarrollo Agrícola S.A. (CDA) carried out its first issuance of Notes under the SME Simplified and Guaranteed Regime of the Argentine Securities and Exchange Commission (CNV, for its acronym in Spanish). The Centro Desarrollo Agrícola Series I Class II Notes, denominated in US Dollars, to be integrated and payable in Pesos in Argentina, were issued for a total nominal amount of US$750,000.
The Notes will not accrue interest and will amortize its principal in three payments structured as follows: the first two, each one equivalent to 33% of its capital, at 18 and 21 months; and the third one, equivalent to the remaining 34% of its capital, on the maturing date, on December 5th, 2025. The issue price was 134%.
The Notes were admitted for listing on Bolsas y Mercados Argentinos S.A., and authorized for trading at Mercado Abierto Electrónico S.A.
In this Notes issuance, Banco de Galicia y Buenos Aires S.A.U., Banco de Servicios y Transacciones S.A., and Banco Supervielle S.A. acted as organizers, placement agents, and guarantee entities.
Beccar Varela acted as deal counsel. Its team was led by partner Luciana Denegri, who was assisted by associates María Belén Tschudy and Ezequiel Cubilla Mascolo.