14 July 2022

Issuance of Notes of Ledesma

Ledesma S.A.A.I., an Argentinean agro-industrial company, carried out the Issuance of Negotiable bonds Class 11 and Class 12 for a total nominal value of AR$ 4,000,000,000, within the framework of its global Program for the issuance of simple negotiable obligations for up to USD 150,000,000. The resources obtained will be applied for working capital and refinancing of short-term liabilities (the “Notes”).

The tender of the negotiable bonds took place on July 5th and was widely oversubscribed, receiving offers that reached the amount of AR$ 12.727.000.000, demonstrating a renewed interest in the market for quality corporate paper.

The Notes were issued on July 8th, 2022, are denominated and payable in Argentine Pesos, at a variable interest rate equal to the Private Badlar Rate plus a fixed interest rate of 1.8% in the case of the Notes Class 11 and 3% for Notes Class 12. Notes Class 11 will mature on May 8th, 2023 while Notes Class 12 will expire on January 8th, 2024.

Ledesma was advised by Nicholson y Cano Abogados, while Pérez Alati, Grondona, Benites & Arntsen advised the placement agents: Banco Santander Argentina S.A., Banco de Galicia y Buenos Aires S.A.U. -which also acted as organizers together with Balanz Capital Valores S.A.U, Banco BBVA Argentina S.A. and Industrial Bank of China (Argentina S.A.U.).

With over one hundred years of history, Ledesma is a leading company in the production of sugar and paper, and with an important participation in the markets of citrus fruits and juices, alcohol, bioethanol, meat, cereals and syrups and corn starches. Committed to the country’s development, Ledesma employs nearly 7,000 people, most of whom work in Jujuy, the Province where Ledesma was born and where it owns 40,000 hectares for harvesting its main raw material: sugar cane.

The issuance was performed in record time and, thanks to the cooperation of the Placement Agents and the Legal Advisors involved, the company was able to take advantage from the opportunities offered by the local capital markets and to access a very competitive financing scheme.

Advisors of LEDESMA S.A.A.I:

Nicholson y Cano Abogados: Partner Marcelo Villegas. Associates Juan Martín Ferreiro, Darío Pessina and Clara Pancotto.

Advisors to the Organizers and Placement Agents:

Pérez Alati, Grondona, Benites & Arntsen: Partner Diego Serrano Redonnet. Associates Nicolás Aberastury, Adriana Tucci and Joaquín López Matheu.

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