Agrofina S.A.’s $60 Million Notes Offering


Beccar Varela acted as legal counsel on the deal

Agrofina S.A. executed the issuances of Class VIII notes, worth US$13.509.284, and Class VIII Additional notes (reopening), worth US$4.979.651, both carried out under the company’s Global Program for the issuance of simple notes, not convertible into shares, for a maximum nominal value of up to US$60 million (or its equivalent in other currencies). With these issuances, Agrofina refinanced its Class VII Negotiable Obligations, which expired on November 10th, 2019.

Class VIII notes, issued on November 5, 2019, and Class VIII Additional notes, issued on November 8, 2019, will accrue interest at a fixed annual rate of 13.65%. Their maturity date will take place on May 5, 2021.

Puente Hnos. S.A., SBS Capital S.A. and Balanz Capital SAU acted as organizers, while Puente Hnos. S.A., SBS Trading S.A. and Balanz Capital SAU acted as placement agents.

Fix SCR S.A. has locally rated these notes “FIX (BBB+)”; which are listed on Bolsas y Mercados Argentinos S.A., admitted to trading at Mercado Abierto Electrónico S.A. and to being transferred through Euroclear.

Agrofina produces and distributes crop protection products.

Beccar Varela acted as deal counsel on the offering with a team including Luciana Denegri (Picture), María Victoria Pavani and María Inés Cappelletti.

Involved fees earner: María Inés Cappelletti – Beccar Varela; Luciana Denegri – Beccar Varela; Maria Victoria Pavani – Beccar Varela;

Law Firms: Beccar Varela;

Clients: Agrofina S.A. ; Balanz Capital S.A. ; Puente Hermanos S.A.; SBS Capital S.A.; SBS trade SA;

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Author: Ambrogio Visconti.