29 July 2021

Refinancing of Grimoldi’s bank debt

Perez Alati, Grondona, Benites & Arntsen (“PAGBAM”) advised a group of 11 banks in the refinancing of Grimoldi S.A.’s, a leading Argentine footwear manufacturer and retailer, financial debt for a total amount of $912,296,049 (the “Restructuring”).

PAGBAM acted as legal counsel to Banco Santander Río S.A. Banco Comafi S.A., Banco de Galicia y Buenos Aires S.A.U, Banco Macro S.A., Banco BBVA Argentina S.A., Banco de la Ciudad de Buenos Aires, Banco de la Nación Argentina, Banco de la Provincia de Buenos aires, Banco Supervielle S.A., HSBC Bank Argentina S.A., and Industrial and Commercial Bank of China (Argentina) S.A. as lenders. The Restructuring was structured through a Refinancing Agreement, in two tranches, one secured by some pre-existing collateral, and the other tranche secured by the granting of mortgages on certain real estate owned by Grimoldi in the Province of Buenos Aires.

The Restructuring also included the disbursement of 2 new loans granted by Banco Macro S.A. and Banco de la Ciudad de Buenos Aires, for investment in working capital.

Perez Alati, Grondona, Benites & Arnsten acted as legal counsel to all the Banks through its partner Diegp Serrano Redonnet, its counsel Danilo Parodi Logioco and its associates Nicolás Aberastury, Guido Olaf Meirovich and Adriana Tucci.

Exequiel Maresca, partner at Grimoldi & Maresca Abogados, acted as external counsel to Grimoldi.

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