Buenos Aires, 21 February 2019. Beccar Varela advised Banco de la Ciudad de Buenos Aires (“Banco Ciudad”) –issuer, organizer and placement agent-, on its latest issuance for a total amount of AR$2,164,196,666, which was carried out in two debt securities classes under the entity’s global program for short, medium and long-term securities for a maximum nominal value of up to US$1,500,000,000 (or its equivalent in other currencies).
Martínez de Hoz & Rueda advised Banco de Galicia y Buenos Aires, Industrial and Commercial Bank of China (Argentina), Puente Hnos., Macro Securities and TPCG Valores in their capacity of placement agents. The result of the placement was published on February 20, 2019.
Banco Ciudad issued Class XIX debt securities for a nominal value of AR$733,750,000, at a floating rate, maturing at 9 months from its date of issuance, while Class XX debt securities for a nominal value of AR$1,430,446,666, at a floating rate, maturing at 18 months from its date of issue.
The listing and negotiation of both classes have been requested to Bolsas y Mercados Argentinos S.A., as well as its trading to Mercado Abierto Electrónico S.A.
The transaction represents one of the largest Argentine issuances during the first two months of 2019 so far.
Counsel to Banco Ciudad
Beccar Varela: partner Luciana Denegri and associates María Victoria Pavani, Pablo Ignacio Godoy and María Inés Cappelletti.
Counsel to Banco de Galicia y Buenos Aires, Industrial and Commercial Bank of China (Argentina), Puente Hnos., Macro Securities y TPCG Valores
Martínez de Hoz & Rueda: partner José Martínez de Hoz (nieto) and associates Luisina Luchini and Franco Lenzi.
Placement agents also turned to their in-house counsels.