On March 31, 2021, TGLT S.A. (“TGLT”) agreed with Banco Itaú Argentina S.A. (“Banco Itaú Argentina”) the refinancing of the Credit Facilities Agreement entered into between TGLT, as borrower, and Banco Itaú Argentina, as lender, dated December 19, 2019 (the “Refinancing”).
The Refinancing consolidated the disbursements made under the different tranches of each of the credit lines, into two credit facilities, namely: (i) the contingent credit facility, for an aggregate principal amount of $651,194,339, which will be repayable in six consecutive semi-annual installments, starting on September 22, 2022 and the last one expiring on March 20, 2025 (the “Contingent Credit Facility”); and (ii) the main credit line, for an aggregate principal amount of $541,370,000, which will be repaid in a single payment on December 20, 2022 (the “Main Credit Facility” and, together with the Contingent Credit Facility, the “Credit Facilities”).
Likewise, within the framework of the Refinancing, TGLT agreed with Banco Itaú Argentina (i) a reduction in the interest rate applicable to the Credit Facilities, (ii) an automatic capitalization of the first interest service; and (iii) a capital discount in the event of early amortization of the Credit Facilities under certain conditions.
The Refinancing included the amendment of the guarantees granted by TGLT under the Credit Facilities, as well as the granting of additional guarantees, including certain pledges of shares on TGLT's stock in two vehicle companies of real estate projects.
Legal advisors of TGLT
In-house lawyers: Daniel Antúnez and José María Krasñansky Simari.
Pérez Alati, Grondona, Benites & Arntsen: Partner Diego Serrano Redonnet, counsel Danilo Parodi Logioco and associate Guido Meirovich.
Legal advisors of Banco Itaú Argentina
In-house lawyer: Verónica López Gacio.
Bomchil: Partner Fermín Caride and associates María Victoria Tuculet and Luciano Zanutto.
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