News

14 August 2019

Notes Series 1 Tranche 2 and Notes Series 2 of IRSA Inversiones y Representaciones Sociedad Anónima

IRSA Inversiones y Representaciones Sociedad Anónima (the “Company”) issued Notes Series 1 Tranche 2 (the “Series No. 1 Tranche 2 Notes”) and Notes Series 2 (the “Series No. 2 Notes”, and together with the Series No. 1 Tranche 2 Notes, the “Notes”), issued under its Global Note Program for up to the sum of US$350,000,000 (or its equivalent in other currencies or units of value).

Perez Alati, Grondona, Benites & Arntsen advised BACS Banco de Crédito y Securitización S.A., Banco Hipotecario S.A., Banco de Galicia y Buenos Aires S.A.U., Banco Santander Río S.A., AR Partners S.A., Balanz Capital Valores S.A.U., Puente Hnos. S.A. and SBS Trading S.A. as placement agents for the offering of the Notes.

On August 6, 2019, the Company successfully completed the placement and issuance of the Notes.

The Series No. 1 Tranche 2 Notes in an aggregate principal amount of US$85,171,669. The Series No. 1 Tranche 2 Notes will be part of the same series as, and will be fungible with, US$96,347,038 aggregate principal amount of the 10.00% Notes due on November 15, 2020, Series 1, that were issued by the Company on May 15, 2019. The Series No. 1 Tranche 2 Notes were issued to investors at a price of 103.77% of the aggregate principal amount thereof.

The Series No. 2 Notes for a total amount of Chilean Pesos 31,502,600,000, equivalent to US$45,005,000, which were issued at a par price and will bear an annual interest rate of 10.50%, payable semi-annually. The Series No. 2 Notes will mature on August 6, 2020.

The offering was directed to the domestic market and the Notes are listed and admitted for trading in the Bolsas y Mercados Argentinos S.A. and on the Mercado Abierto Electrónico S.A.

Perez Alati, Grondona, Benites & Arntsen acted as counsel to the placement agents. The team included partner Diego Serrano Redonnet and associates Nicolás Aberastury, Guido Meirovich and Paula Balbi.

Read article published in Abogados.com.ar

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