Zang, Bergel & Viñes Abogados has advised IRSA Inversiones y Representaciones Sociedad Anónima ("IRSA" or the "Company") in the issuance of Series No. X Notes, Series No. XI Notes and Series No. XII Notes (collectively, the "Notes") transaction, under its Global Notes Program (not convertible into shares) for up to USD 600,000,000 (US Dollars six hundred million) (or its equivalent in other currencies or units of value).
Pérez Alati, Grondona, Benites & Arntsen advised BACS Banco de Crédito y Securitización S.A., Banco Hipotecario S.A., Banco de Galicia and Buenos Aires S.A.U., Banco Santander Río S.A., AR Partners S.A., Banco de la Provincia de Buenos Aires, Balanz Capital Valores S.A.U., Puente Hnos. S.A., Facimex Valores S.A. and SBS Trading S.A. as placement agents of the Notes (the “Placement Agents”).
On March 30, 2021, IRSA successfully consummated the issuance of (i) Series No. X Notes for a total amount of ARS 701,573,333, equivalent to USD 7,632,292.84, which were issued at a par price, will bear an annual interest rate of the Private Badlar Rate (Tasa Badlar Privada) plus 5.00%, payable on a quarterly basis, and will mature on March 31, 2022; (ii) Series No. XI Notes for an amount of USD 15,812,209, which were issued at a price of 98.39% of face value, will bear an annual interest rate of 5.00%, payable on a bi-annual basis, and will mature on March 31, 2024; and (iii) Series No. XII Notes for an amount of UVA 53,784,674, equivalent to USD 42,081,399.21, which were issued at a par price, will bear an annual interest rate of 4.00%, payable on a quarterly basis, and will mature on March 31, 2024.
The offer was directed to the local market and the Notes have been authorized for listing on Bolsas y Mercados Argentinos S.A. and for trading in Mercado Abierto Electrónico S.A.
Counsel to IRSA
Zang, Bergel & Viñes Abogados acted as counsel to the Company through partner Carolina Zang, and associates Ignacio Milito Bianchi, Tomás Lipka and Sofía Capozzi.
Counsel to the Placement Agents
Pérez Alati, Grondona, Benites & Arntsen acted as legal advisor to the Placement Agents through partner Diego Serrano Redonnet and associates Guido Meirovich and Pablo Vidal Raffo.
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