Pérez Alati, Grondona, Benites & Arntsen (“PAGBAM”) advises Los Grobo Agropecuaria S.A. and Agrofina S.A., as borrowers, in a US$ 85 million syndicated facility (which may be extended up to US$ 120 million) arranged by Banco de Galicia y de Buenos Aires S.A.U., Banco Supervielle S.A., HSBC Bank Argentina S.A., Banco Hipotecario S.A., Banco Itaú Argentina S.A., and Banco de la Provincia de Buenos Aires, and Banco de Galicia y de Buenos Aires S.A.U., Banco Santander Río S.A., Banco Supervielle S.A., HSBC Bank Argentina S.A., Banco Hipotecario S.A. and Banco Itaú Argentina S.A., respectively.
The loan is secured with a fiduciary assignment of certain deferred-payment checks delivered by different customers of Los Grobo Agropecuaria and Agrofina, an assignment of contractual rights in favor of the Banks over the sales of agricultural inputs and more than 20 mortgages over different properties of the borrowers located in the Provinces of Buenos Aires and Cordóba
The use of the proceeds will be used by Los Grobo Agropecuaria and Agrofina to refinance short term debt and investments in working capital for their productive activities.
Legal advisors of Los Grobo Agropecuaria and Agrofina
Pérez Alati, Grondona, Benites & Arntsen: team led by partner Santiago Daireaux, with the participation of associates Tomás Fernández Madero and Guido O. Meirovich.
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