Beccar Varela and PAGBAM advise on Tarjeta Naranja’s notes issuance.
Buenos Aires, July 7th, 2022. On July 5th, Tarjeta Naranja S.A.U. (“Tarjeta Naranja”) issued Class LIV Notes -simple, non-convertible into shares, unguaranteed-, carried out in two series for a total nominal amount of AR$8,000,000,000. The issuance was made under the company’s Global Program of up to US$1,000,000,000.
Series I Notes were issued for a nominal amount of AR$3,220,141,000. Series I, maturing on July 5th, 2023, will accrue interest at a floating rate, equivalent to the private Badlar rate plus a cut-off margin of 2.85% and will amortize its principal in one payment on its maturing date.
Series II Notes were issued for a nominal amount of AR$4,779,859,000 and will mature on July 5th, 2024. This Series accrue interest at a floating rate, equivalent to the private Badlar rate plus a cut-off margin of 4.99%, and will amortize its principal in a single payment on the maturing date.
Series I and II have been locally rated “A1(arg)” and “AA-(arg)”, respectively, by FIX SCR S.A. on July 1st. In addition, they were admitted for listing on Bolsas y Mercados Argentinos S.A. and authorized for trading at Mercado Abierto Electrónico S.A.
In the issuance of the Series LIV Notes, Banco de Galicia y Buenos Aires S.A.U. acted as organizer and placement agent, while Banco Itaú Argentina S.A., Banco Patagonia S.A., Banco Santander Argentina S.A., Industrial Valores S.A., Itaú Valores S.A., and Macro Securities S.A. acted as placement agents.
Tarjeta Naranja S.A.U. and Banco de Galicia y Buenos Aires S.A.U. turned to Beccar Varela’s team, led by Luciana Denegri, with participation of María Victoria Pavani, María Inés Cappelletti, Julián Ojeda, Tomás Cappellini, and María Belén Tschudy. The placement agents turned to Pérez Alati, Grondona, Benites & Arnsten’s team, led by Diego Serrano Redonnet, assisted by Nicolás Aberastury, Joaquín López Matheu, and Adriana Tucci.