Beccar Varela and Perez Alati, Grondona, Benites & Arntsen advise Tarjeta Naranja on notes’ issuances.
Buenos Aires, February 3rd, 2022. On January 31st, Tarjeta Naranja S.A. issued Class LI Notes, simple, non-convertible into shares, payable in Pesos, carried out in two series, for a total nominal amount of AR$6,000,000,000. The issuance of the Notes 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$2,715,057,778 and will mature on January 31st, 2023. They will accrue interest at a variable rate, equivalent to the private Badlar rate plus a cut-off margin of 3.99%, and will amortize their principal in one payment on the due date.
Series II Notes were issued for a nominal amount of AR$3,284,942,222 and will mature on January 31st, 2024. They will accrue interest at a variable rate, equivalent to the private Badlar rate plus a cut-off margin of 6.00%, and will amortize their principal in one payment on the due date.
On January 26th, 2022, FIX SCR S.A. Agente de Calificación de Riesgo (affiliate of Fitch Ratings) locally rated Series I Notes “A1(arg)” and Series II Notes “AA-(arg)”. These Notes were admitted for listing on Bolsas y Mercados Argentinos S.A. and authorized for trading at Mercado Abierto Electrónico S.A.
In this issuance, Banco de Galicia y Buenos Aires S.A.U. acted as organizer and placement agent, while Banco Comafi S.A., Banco Patagonia S.A., Banco Santander Río S.A., Industrial Valores S.A. and Macro Securities S.A. acted as placement agents. Tarjeta Naranja S.A. and Banco de Galicia y Buenos Aires S.A.U. turned to Beccar Varela’s team, led by Luciana Denegri, who was assisted by María Victoria Pavani, María Inés Cappelletti and Julián Ojeda. The Placement Agents were advised by Pérez Alati, Grondona, Benites & Arnsten, team led by Diego Serrano Redonnet, assisted by Alejo Muñoz de Toro and Adriana Tucci.