Buenos Aires, July 13, 2020.
Beccar Varela advised Tarjeta Naranja S.A. on the issuance of Class XLIV Negotiable Obligations, in the amount of $3,574,897,350, carried out under Global Note Program for the issuance of notes for a nominal value of up to U$S 1,000,000,000 (or its equivalent in other currencies, units of measure or units of value).
The Class XLIV Notes, issued on July 8, will bear interest at a variable annual rate, which will be equivalent to the sum of the BADLAR Private rate (the Reference Rate), plus a 4% Cut Off Margin and will mature on January 8, 2022. In addition, they have been locally rated as "AA-(arg)" by FIX SCR S.A,. on July 1st.
Tarjeta Naranja S.A. acted as issuer, while Banco de Galicia y Buenos Aires S.A.U. acted as organizer and placement agent, and Macro Securities S.A. and Banco Santander Río S.A. acted as placement agents.
The Class XLIV Notes have been admitted for listing on Bolsas y Mercados Argentinos S.A. and authorised for trading on the Mercado Abierto Electrónico S.A., being eligible by Euroclear Bank S.A./N.V.
The issuer was legally advised by Beccar Varela, with a team led by partner Luciana Denegri and with the participation of associates María Victoria Pavani and María Inés Cappelletti.
The placement agents were advised by Pérez Alati, Grondona, Benites & Arntsen, with a team led by partner Diego Serrano Redonnet and with the participation of associates Nicolás Aberastury and Paula Balbi.
