Beccar Varela and PAGBAM advise on Tarjeta Naranja’s Class XLV notes issuance.
Buenos Aires, 28 December 2020. Beccar Varela advised Tarjeta Naranja S.A. on Class XLV notes issuance, worth AR$3,057,000,000, carried out under the company’s Global Program of up to US$1,000 million. In this issuance, Tarjeta Naranja acted as issuer, Banco de Galicia y Buenos Aires S.A.U. as the organizer and placement agent, and Banco Patagonia S.A. and Banco Santander Río S.A. as placement agents, who were advised by Pérez Alati, Grondona, Benites & Arntsen (PAGBAM).
Class XLV notes issuance took place on December 18th, 2020. They will accrue interest at a floating rate, equivalent to Private Badlar rate plus a cut-off margin of 5%. Their maturity date will be on December 18, 2021.
On December 15, 2020, FIX SCR S.A. locally rated Class XLV notes as “A1(arg)”. The Notes are listed and traded at Mercado Abierto Electrónico S.A. and Bolsas y Mercados Argentinos S.A. These notes are eligible by Euroclear Bank S.A./N.V.
Counsel to Tarjeta Naranja
Beccar Varela: team led by partner Luciana Denegri, assisted by associates María Victoria Pavani, María Inés Cappelletti, Joaquín Vallejos, Julián Ojeda and María Luján Retamozo.
Counsel to placement agents
Pérez Alati, Grondona, Benites & Arntsen (PAGBAM): partner Diego Serrano Redonnet and associates Nicolás Aberastury, Guido Meirovich and Pablo Vidal Raffo.