Pérez Alati, Grondona, Benites & Arntsen and Marval, O’Farrell Mairal advise on the structuring of a loan for an export pre-financing (prefinanciación de exportaciones) to be granted to Los Grobo Agropecuaria S.A. (“LGA”) and Agrofina S.A. (“AF” and together with LGA, the “Borrowers”), for an aggregate total amount up to US Dollars fifty million (USD 50,000,000), to be granted by Promontoria Holding 318 B.V. (“Promontoria”).
The financing consists of a long-term loan for pre-financing of exports (prefinanciación de exportaciones) secured by means of a fiduciary assignment in guarantee of certain credits of the Borrowers, and other guarantees constituted abroad Argentina.
The proceeds of the abovementioned financing will be applied by the Borrowers to the pre-financing of cereal exports, such as corn, soybeans, sunflower, wheat and barley, among others.
Legal counsel for Los Grobo Agropecuaria and Agrofina
In-house counsel: Ileana Franquez and Lucas Divito.
External counsel for foreign law
Cleary, Gottlieb, Steen & Hamilton LLP: Associate Lizzie Gomez.
External counsel for Argentinean law
Pérez Alati, Grondona, Benites & Arntsen
Partner Santiago Daireaux and associates Tomás Fernández Madero y Guido O. Meirovich.
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