San Miguel, a leading producer and exporter of lemons in the Southern Hemisphere, successfully completed the issue of its Notes Series IV under its Global Note Program for the issuance of notes for a nominal value of up to US $80,000,000. The proceeds will be used to refinance short-term liabilities, working capital and capital goods.
The tender of the negotiable obligations was oversubscribed, receiving offers that reached up to US $89,419,944.
The bonds were issued on June 30, 2020 for an amount of US $40.000.000, are denominated in dollars payable in pesos at the applicable exchange rate; with a fixed rate of 1,48%, with maturity on December 30, 2021.
San Miguel 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-, Balanz Capital Valores S.A.U, Banco Supervielle S.A., Allaria Ledesma & Cia. S.A., AR Partners S.A. and Puente Hnos.
Based in the province of Tucumán, San Miguel is dedicated to the production, commercialization and export of fresh citrus fruits from the southern hemisphere. The company is the world’s leader in processing citrus products with added value, reaching 15% of the global lemon milling. San Miguel is recognized by its more than 200 international premium clients in more than 50 countries as a reliable citrus producer handling high quality standards.
Advisors to the Placement Agents:
Pérez Alati, Grondona, Benites & Arntsen: Partner Diego Serrano Redonnet. Associates Nicolás Aberastury, Guido Meirovich and Paula Balbi.