11 July 2022

Tarjeta Naranja S.A.U. ON Notes’ Issuance

Buenos Aires, July 8, 2022. On July 5, Tarjeta Naranja S.A.U. (“Tarjeta Naranja“) issued Class LIV Notes simple, non-convertible into shares, unguaranteed, carried out in two series, for a total nominal amount of AR$8,000,000,000. The issuance was made under the company’s Global Program of up to US$1,000,000,000.

The Series I Class LIV Notes were issued for a nominal amount of AR$3,220,141,000. Series I, maturing on July 5, 2023, accrue interest at a floating rate, equivalent to the private Badlar rate plus a cut-off margin of 2.85% and will amortize its principal in one payment on its maturing date. 

On their behalf, Series II Class LIV Notes were issued for a nominal amount of AR$4,779,859,000 and will mature on July 5, 2024. This Series accrue interest at a floating rate, equivalent to the private Badlar rate plus a cut-off margin of 4.99% and will amortize its principal in a single payment on the maturing date. 

The Class LIV Series I and Series II Notes have been locally rated “A1(arg)” and “AA-(arg)”, respectively, by FIX SCR S.A. on July 1st. In addition, they were admitted for listing in Bolsas y Mercados Argentinos S.A. and authorized for trading in the Mercado Abierto Electrónico S.A. 

In the issuance of the Series LIV Notes, Banco de Galicia y Buenos Aires S.A.U. acted as organizer and placement agent, while Banco Itaú Argentina S.A., Banco Patagonia S.A., Banco Santander Argentina S.A., Industrial Valores S.A., Itaú Valores S.A. and Macro Securities S.A.  acted as placement agents. Tarjeta Naranja S.A.U. and  Banco de Galicia y Buenos Aires S.A.U. were advised by the team of Beccar Varela lead by Luciana Denegri, with the participation of María Victoria Pavani, María Inés Cappelletti, Julián Ojeda, Tomás Cappellini and María Belén Tschudy. On the other hand, the team of Pérez Alati, Grondona, Benites & Arnsten lead by Diego Serrano Redonnet with the participation of Nicolás Aberastury, Joaquín López Matheu and Adriana Tucci advised the placement agents. 

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