13 July 2020

Tarjeta Naranja bond issue

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.

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.