23 August 2023

Advise on Angel Estrada's bond issuance

Ángel Estrada y Compañía S.A. (AESA), a leading Argentinian manufacturer of school and office stationery products, successfully completed the placement and issuance in the local market of Series 13 Notes for an aggregate amount of ARS 1,000,000,000.

The notes were issued on August 3, 2023, under the Non-Convertible Simple Notes Program for up to USD 30,000,000 (or its equivalent in other currencies). Series 13 Notes, denominated and payable in ARS, bear a variable interest rate corresponding to the sum of the ‘Badlar Privada’ Rate and the 5% cut-off margin. The notes will mature on August 3, 2024.

AESA has been competing globally for over 145 years, offering top-quality products, supporting education and office related ideas and content, accompanying technological progress, and making efficient use of its resources, thus maximizing value creation for clients, employees, shareholders, suppliers, and the community, within a strict ethical framework.

Marval O’Farrell Mairal advised AESA. Pérez Alati, Grondona, Benites & Arntsen advised Banco de Galicia y Buenos Aires S.A.U. (arranger and placement agent), Cohen S.A., Banco Santander Argentina S.A., Banco de Servicios y Transacciones S.A., Balanz Capital Valores S.A.U., Facimex Valores S.A., Allaria S.A., Banco BBVA Argentina S.A., Invertir en Bolsa S.A., GMA Capital S.A., and Banco de la Provincia de Buenos Aires S.A. (placement agents).

Legal advisors to the Arrangers and Placement Agents:

Pérez Alati, Grondona, Benites & Arntsen: Partner Diego Serrano Redonnet and associates Alejo Muñoz de ToroNahuel Perez de Villarreal and Tamara Friedenberger

Subscribe to our Newsletter

Stay updated by receiving our Legal News Alert that will provide you, in a quick and simple way,
with the latest regulatory changes as well as the most relevant news.


* indicates required
I hereby give my free and informed consent for the collection, processing, storage and/or use of my personal data (the "Personal Data") by Pérez Alati, Grondona, Benites & Arntsen. I understand that all assignment and/or transfer of my Personal Data will be made in full compliance with Law No. 25,326 and complementary regulations. The delivery of my Personal Data is voluntary. I understand that, as the owner of the Personal Data, I have the right to exercise, free of charge, the right of access, rectification or deletion of my Personal Data pursuant to Section 14, subsection 3 of Law No. 25,326 (as amended), by communicating to the following e-mail address The AGENCY FOR ACCESS TO PUBLIC INFORMATION, Control Body of Law No. 25,326, has the power to deal with complaints and claims filed by those affected in theirs right due to breach of the Personal Data legislation in force.
You must fill the checkbox to suscribe.