Roch S.A. consent solicitation
Counsel to Roch S.A. in a consent solicitation process for the release of proceeds for an amount of AR$266,094,000 to be applied under the joint venture agreement Unión Transitoria Río Cullen, Las Violetas, La Angostura (Cuenca Austral - Tierra del Fuego Province)and for increasing the interest rates for the periods between June and December 2023, from 6.5% to 7% per annum for the US Dollar denominated debt and the margin under the Peso denominated debt from 12% to 12,5% per annum.
The transaction was conducted within the framework of the company’s judicial insolvency proceeding and allowed Roch to obtain the consents from 81.07% of the holders of the series 1 secured notes for US$16,261,578; 100% of the holders of the private secured note for US$3,413,694; and 100% from the lenders under financial loans Banco Itaú Argentina S.A., Banco de la Ciudad de Buenos Aires and Banco de Tierra del Fuego for US$9,149,905.
Albanesi Energía S.A.’s Issuance of Series VII Notes for US$ 12,913,409, Series VIII Notes for $388,552,039 and Series IX Notes for 31,588,984 UVAs
Counsel to SBS Capital S.A. and Banco de Servicios y Transacciones S.A. as arrangers, and to SBS Trading S.A., Banco de Servicios y Transacciones S.A., Balanz Capital Valores S.A.U., Facimex Valores S.A., Banco Hipotecario S.A., Nación Bursátil S.A., Banco de la Provincia de Buenos Aires, Macro Securities S.A.U., Banco Supervielle S.A., Supervielle Agente de Negociación S.A.U., BACS Banco de Crédito y Securitización S.A., Adcap Securities Argentina S.A., Petrini Valores S.A., Portfolio Investment S.A., Allaria Ledesma & Cía S.A., Global Valores S.A. and TPCG Valores S.A.U., as placement agents, in the issuance of Albanesi Energía S.A.’s 4% Series VII Notes for US$ 12,913,409, due February 13, 2025; floating annual interest rate Series VIII Notes for $388,552,039 due February 13, 2024; and 3.8% Series IX Notes for 31,588,984 UVAs, equivalent to $6,225,872,857, all of them issued under the Global Notes Program for an amount of up to US$ 250,000,000.
SBS Capital S.A. and Banco de Servicios y Transacciones S.A. acted as arrangers, and Banco de Servicios y Transacciones S.A. as arrangers, and to SBS Trading S.A., Banco de Servicios y Transacciones S.A., Balanz Capital Valores S.A.U., Facimex Valores S.A., Banco Hipotecario S.A., Nación Bursátil S.A., Banco de la Provincia de Buenos Aires, Macro Securities S.A.U., Banco Supervielle S.A., Supervielle Agente de Negociación S.A.U., BACS Banco de Crédito y Securitización S.A., Adcap Securities Argentina S.A., Petrini Valores S.A., Portfolio Investment S.A., Allaria Ledesma & Cía S.A., Global Valores S.A. and TPCG Valores S.A.U. acted as placement agents of Series VII Notes, Series VIII Notes and Series IX Notes.
Issuance of PyME CNV Guaranteed Class II Notes of Agro Alliance S.A. for U$S950,010
Counsel in the issuance of the PyME Guaranteed Class II Series I Notes for U$S950,010 by Agro Alliance S.A. due on February 14, 2025.
Banco Supervielle S.A., Banco Mariva S.A., and Banco de Servicios y Transacciones S.A. acted as arrangers, placement agents, and guarantee entities of Class II Series I Notes. Supervielle Agente de Negociación S.A.U. acted as placement agent of the Notes.
“AMFAyS – Serie 41” Financial Trust for AR$509,610,869
Legal advisors to StoneX Securities S.A. and Nuevo Banco de Santa Fe S.A. as arrangers and placement agents in the issuance and placement in Argentina by Asociación Mutual de las Fuerzas Armadas y de Seguridad (AMFAyS) as trustor and TMF Trust Company (Argentina) S.A. as trustee and issuer of debt securities Class 1 for AR$337,526,255 debt securities Class 2 for AR$22,143,241 and debt securities Class 3 for AR$149,941,373, under the Financial Trusts Global Program “AMFAyS – Serie 41” for an amount of up to AR$5,000,000,000.
Posco Argentina obtains up to US$ US$ 411,900,000 Financing for the Construction and Development of a Lithium Project
Legal counsel to BNP PARIBAS Seoul Branch, Citibank N.A. Hong Kong Branch, Crédit Agricole Corporate and Investment Bank, JPMorgan Chase Bank, N.A., The Hongkong and Shanghai Banking Corporation Limited, and Korea Trade Insurance Corporation (Korean export credit agency) in a facility worth up to US$ 411,900,000 to Posco Argentina S.A.U. to finance the construction and development of the first phase of Sal de Oro lithium brine project, located in Salar del Hombre Muerto, in the provinces of Catamarca and Salta, in Argentina, one of the most important lithium brine projects in the country. The funds under the financing will be used for the development of the lithium plant, including financing of infrastructure and imports. Plant construction completion is expected for Q2 2024.
The facility is guaranteed by Posco Holdings Inc., a South Korean company and one of the major lithium producers worldwide, and by K-Sure, in its landing in Argentina. Disbursements under the facility are subject to certain conditions precedent.
Legal Advice in Petrolera Aconcagua Energía S.A.’s Class II Notes Issuance
Counsel to Petrolera Aconcagua Energía S.A. and Banco de Servicios y Transacciones S.A. in the issuance of Petrolera Aconcagua Energía S.A.’s 5.5% Class II Notes for US$ 15,000,000 issued on January 23, 2023, and due January 23, 2026, under its US$ 100,000,000 Global Notes Program.
Banco de Servicios y Transacciones S.A. acted as arranger and placement agent, and Banco Mariva S.A., Banco Supervielle S.A., SBS Trading S.A., Consultatio Investments S.A., Allaria Ledesma & Cía. S.A., AdCap Securities Argentina S.A. y Portfolio Investment S.A. acted as placement agents.
Issuance of PyME CNV Guaranteed Class I Notes for $ 234,000,000 and Class II Notes for U$S 424,000 of Frigorífico General Pico S.A.
Counsel in the issuance of the PyME Guaranteed Class I Series I Notes for $2 34,000,000 and Class II Series I Notes for U$S 425,000, by Frigorifico General Pico S.A. due on January 13, 2025.
Adcap Securities Argentina S.A. acted as arranger of Class I Series I and Class II Series I Notes. Adcap Securities Argentina S.A. and Banco de Servicios y Transacciones S.A. acted as placement agents of the Notes. Fid Aval S.G.R., Crecer S.G.R., Integra Pymes S.G.R., Potenciar S.G.R., Acindar Pymes S.G.R. and Mills S.G.R. acted as guarantee entities of the Notes.
MSU Energy S.A.´s US$ 15.100.000 Series VII Notes Offering
Counsel to MSU Energy S.A. in the issuance of its 7.5% Series VII Notes for US$ 15,100,000, denominated, integrated and payable in U.S. dollars, maturing 24 months from the issuance date, under its US$ 285,000,000 Global Notes Program.
“San Cristóbal Servicios Financieros I” Financial Trust for AR$ 422,500,000
Deal counsel in the issuance and placement in Argentina of trust securities for AR$ 422,500,000 issued under the “San Cristóbal Servicios Financieros I” Financial Trust, in which San Cristóbal Servicios Financieros S.A. acted as trustor, TMF Trust Company (Argentina) S.A. acted as trustee, Banco Macro S.A. acted as arranger, First Corporate Finance Advisors S.A. acted as financial advisor and Macro Securities S.A.U. acted as placement agent.
“Wenance II” Financial Trust for AR$ 481,538,000
Deal counsel in the issuance and placement in Argentina of trust securities for AR$ 481,538,000 issued under the “Wenance II” Financial Trust, in which Wenance S.A. acted as trustor, servicer and collection agent, Adcap Securities Argentina S.A. as arranger, structuring agent, financial advisor and placement agent, and Rosario Administradora Sociedad Fiduciaria S.A. acted as trustee.