Banco Supervielle S.A.’s $310 Million Notes Offering


Errecondo, González & Funes, Cleary Gottlieb Steen & Hamilton, Bruchou, Fernández Madero & Lombardi and Davis Polk & Wardwell have advised on the transaction

Banco Supervielle, has successfully completed its inaugural relevant international issuance of a 3.5YR tenor global bond denominated in Argentine Pesos equivalent to US$ 300 million. The Notes will accrue interest at Badlar + 450 bps with a minimum coupon rate of 18%. The book was oversubscribed.

Credit Suisse Securities (USA) LLC and Santander Investments Securities Inc. acted as Initial Purchasers.

The decision to raise funds in the international and Argentine market follows the green shoots seen in the economy during the last quarter of 2016 and the positive outlook we perceive in our day to day business for 2017. The proceeds of this offering will be applied to loan origination with longer tenures between individuals and SMEs supporting our commitment to continue being a relevant player in the Argentine financial system.

This transaction confirms the presence of Grupo Supervielle in the international and local capital markets following its successful IPO carried out only eight months ago. We appreciate the support the international and local financial communities give to our company which reinforces our firm engagement with our growth strategy.

Errecondo, González & Funes has advised Banco Supervielle S.A. with Carolina Curzi (Picture), Delfina Lynch and Mario Segers.

Cleary Gottlieb Steen & Hamilton has advised Banco Supervielle S.A. with Andrés de la Cruz, Emilio Minvielle, Janeth López and Eduardo Romero.

Bruchou, Fernández Madero & Lombardi has advised Credit Suisse Securities (USA) LLC and Santander Investments Securities Inc. with Hugo Bruzone, Alejandro Perelsztein, Pablo Schreiber and Belén Justiniano.

Davis Polk & Wardwell has advised Credit Suisse Securities (USA) LLC y Santander Investments Securities Inc. with Nicholas A. Kronfeld, Kathleen L. Ferrell, Pedro J. Bermeo and Catherine L. Chu.

Involved fees earner: Hugo Bruzone – Bruchou, Ferna?ndez Madero & Lombardi; Alejandro Perelsztein – Bruchou, Ferna?ndez Madero & Lombardi; Pablo Schreiber Nisim – Bruchou, Ferna?ndez Madero & Lombardi; Belén Justiniano – Bruchou, Ferna?ndez Madero & Lombardi; Carolina Curzi – Errecondo, Gonzalez & Funes ; Delfina Lynch – Errecondo, Gonzalez & Funes ; Mario Segers – Errecondo, Gonzalez & Funes ; Nicholas Kronfeld – Davis Polk & Wardwell; Kathleen Ferrell – Davis Polk & Wardwell; Catherine Chu – Davis Polk & Wardwell; Pedro Bermeo – Davis Polk & Wardwell; Emilio Minvielle – Cleary Gottlieb Steen & Hamilton; Andrés De la Cruz – Cleary Gottlieb Steen & Hamilton; Janeth Lopez – Cleary Gottlieb Steen & Hamilton; Eduardo Romero – Cleary Gottlieb Steen & Hamilton;

Law Firms: Bruchou, Ferna?ndez Madero & Lombardi; Errecondo, Gonzalez & Funes ; Davis Polk & Wardwell; Cleary Gottlieb Steen & Hamilton;

Clients: Credit Suisse Securities Limited; Santander Securities ; Banco Supervielle S.A. ;

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Author: Ambrogio Visconti.