Beccar Varela advises Hidrotec on its first Notes’ issuance.
Buenos Aires, February 24th, 2023. On February 14th, 2023, Hidrotec S.A. (“Hidrotec”) carried out its first Notes Issuance (Series I Notes) under the PYME CNV Garantizadas regime (SME Guaranteed Regime). Series I Class I Notes, issued for a total nominal amount of US$3.950.672, are maturing on February 14th, 2025, and will not accrue interest.
In addition, the principal of the Notes will be amortized in three payments structured as follows: (i) the first payment, equivalent to 33% of the nominal value, at 18 months; (ii) the second payment, equivalent to 33% of the nominal value, at 21 months; and (iii) the third payment, equivalent to 34% of the nominal value, at 24 months. The Notes are guaranteed by Argenpymes S.G.R., Banco de Galicia y Buenos Aires S.A.U., Banco Macro S.A. y Banco Supervielle S.A.
Series I 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, Allaria Ledesma & Cía. S.A., Banco de Galicia y Buenos Aires S.A.U., Banco Supervielle S.A., and Macro Securities S.A.U. acted as organizers and placement agents, while Argenpymes S.G.R., Banco de Galicia y Buenos Aires S.A.U., Banco Macro S.A., and Banco Supervielle S.A. acted as guarantee entities. In addition, Zulu Valores S.A. acted as placement agent, and Supervielle Agente de Negociación S.A.U. participated as a sub-placement agent. All parties involved in the transaction turned to Beccar Varela’s team, led by Luciana Denegri and comprised of associates Julián Ojeda, Franco Scervino, María Belén Tschudy, and Tomás Cappellini.