Beccar Varela and PAGBAM advise on Tarjeta Naranja’s Class XLIV notes issuance
Buenos Aires, 14 July 2020. Beccar Varela advised Tarjeta Naranja S.A. on Class XLIV notes issuance, worth AR$3,574,897,350, carried out under the company’s Global Program for the issuance of short, medium and long-term notes for a maximum nominal value of up to US$1,000 million (or its equivalent in other currencies). In this issuance, Tarjeta Naranja acted as issuer, Banco de Galicia y Buenos Aires S.A.U. as the organizer and co-placement agent and Macro Securities S.A. and Banco Santander Río S.A. as co-placement agents.
Class XLIV notes issuance took place on July 8, 2020. They will accrue interest at a floating rate, equivalent to Private Badlar rate plus cut off margin of 4%. Their maturity date will be on January 8, 2022.
On July 1st, 2020, FIX SCR S.A. locally rated Class XLIV notes as “AA-(arg)”. Their listing and trading at Mercado Abierto Electrónico S.A. have been authorized, and authorization has been requested from Bolsas y Mercados Argentinos S.A. These notes are eligible by Euroclear Bank S.A./N.V.
Counsel to Tarjeta Naranja
Beccar Varela: partner Luciana Denegri and associates María Victoria Pavani y María Inés Cappelletti.
Counsel to placement agents
Pérez Alati, Grondona, Benites & Arntsen (PAGBAM): partner Diego Serrano Redonnet and associates Nicolás Aberastury and Paula Balbi.