Zang, Bergel & Viñes Abogados has advised IRSA Inversiones y Representaciones Sociedad Anónima (the “Company”) regarding the issuance of Notes Series 3 (the “Series No. III Notes”), Notes Series 4 (the “Series No. IV Notes”), and Notes Series 5 (the “Series No. V Notes”, and together with the Series No. III Notes and the Series No. IV Notes, the “Notes”), issued under its Global Note Program for up to the sum of US$350,000,000 (or its equivalent in other currencies or units of value).
Perez Alati, Grondona, Benites & Arntsen advised BACS Banco de Crédito y Securitización S.A., Banco Hipotecario S.A., Banco de Galicia y Buenos Aires S.A.U., Banco Santander Río S.A., Banco de la Provincia de Buenos Aires, Banco Patagonia S.A., Balanz Capital Valores S.A.U., Puente Hnos. S.A. and SBS Trading S.A. as placement agents for the offering of the Notes.
On May 21, 2020, the Company successfully completed the placement of the Series No. III Notes for a total amount of Ps.353,991,881, which were issued at a par price, will bear an annual interest rate of the Private Badlar Rate (Tasa Badlar Privada) plus 6.00%, payable on a quarterly basis, and will mature on February 21, 2021, the Series No. IV Notes for a total amount of US$51,352,149, will bear an annual interest rate of 7.00%, payable on a quarterly basis, at an issue price of 102.00% (IRR (TNA): 5.03%) of the nominal value and will mature on May 21, 2021, and the Series No. V Notes for a total amount of US$9,175,948, will bear an annual interest rate of 9.00%, payable on a quarterly basis, at an issue price of 103.00% (IRR (TNA): 7.56%) of the nominal value, and will mature on May 21, 2022.
The offering was directed to the domestic market and the Notes are listed and admitted for trading in the Bolsas y Mercados Argentinos S.A. and on the Mercado Abierto Electrónico S.A.
Counsel to the placement agents
Perez Alati, Grondona, Benites & Arntsen acted as counsel to the placement agents. The team included partner Diego Serrano Redonnet and associates Nicolás Aberastury, Guido Meirovich and Paula Balbi.
