31 July 2020

Nicholson y Cano Abogados and Pérez Alati, Grondona, Benites & Arntsen advised on a Ledesma bond issue

Ledesma S.A.A.I., an Argentinean agro-industrial company, carried out the issuance of class 8 and class 9 negotiable bonds, within the framework of its global program for the issuance of simple negotiable bonds for a nominal value of up to US$ 150,000,000.

The bonds were issued on July 17, 2020 for a total nominal value of AR$1,500,000,000 in two different classes: class 8, for an amount of AR$444,664. 500, maturing on January 17, 2021 and with a variable interest rate corresponding to the sum of the Badlar Private Rate and a cut-off margin of 3.00%; and class 9, in the amount of AR$ 1,055,335,500, maturing on July 17, 2021 with a fixed interest rate of 33.240% nominal per annum. Both classes are denominated and payable in argentine pesos.

The tender of the negotiable bonds was oversubscribed, receiving offers that reached the amount of AR$ 2,874,529,500 between both classes.

Ledesma was advised by Nicholson y Cano Abogados, while Pérez Alati, Grondona, Benites & Arntsen advised the placement agents: Banco Santander Río S.A., Banco de Galicia y Buenos Aires S.A.U. -which also acted as organizers together with Banco Macro S.A.-, Balanz Capital Valores S.A.U, and Macro Securities S.A.

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.

Advisors to the Organizers and Placement Agents:

Pérez Alati, Grondona, Benites & Arntsen: Partner Diego Serrano Redonnet. Associates Nicolás Aberastury, Guido Meirovich and Pablo Vidal Raffo.

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