Grupo Supervielle S.A.’s $473,8 American Depositary Shares Offering


Errecondo, González & Funes, Davis Polk & Wardwell and Bruchou, Fernández Madero & Lombardi advised on the transaction

Grupo Supervielle S.A. and one of its shareholders finalized the international public offering of 20,155,453 American Depositary Shares, including 2,916,546 ADSs sold pursuant to the full exercise of the underwriters’ over-allotment option, each representing five of its Class B shares, at a price per ADS of $20.00. The international offering was part of a global offering that also included a concurrent offering of 12,410,957 Class B shares in Argentina. In addition, 5,261,775 Class B shares were subscribed pursuant to a preemptive and accretion rights offering in Argentina. The global offering raised gross proceeds of approximately $473.8 million. The ADSs are listed on the New York Stock Exchange under the symbol “SUPV.”

AR Partners S.A., Banco Supervielle S.A.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Itau BBA USA Securities, Inc. and J.P. Morgan Securities LLC acted as joint bookrunners.

Grupo Supervielle S.A. is a financial group in Argentina. The company owns Banco Supervielle S.A., the fourth-largest Argentine private domestically controlled bank in terms of assets with a strong geographic presence in the City of Buenos Aires and the greater Buenos Aires metropolitan area, Mendoza and San Luis. The company is controlled by the Supervielle family, which entered the Argentine banking sector in 1887.

Errecondo, González & Funes advised Grupo Supervielle S.A. with Carolina Curzi (Picture) and Delfina Lynch.

Davis Polk advised the joint bookrunners with Nicholas A. Kronfeld, Pedro J. Bermeo, Andrew J. Terjesen, Joshua S. Sills (Capital Markets), Kathleen L. Ferrell, Omer Harel (Tax), Marcie A. Goldstein (FINRA advice).

Bruchou, Fernández Madero & Lombardi advised the Initial Purchasers with Hugo N. Bruzone, José María Bazán, Andrés Chester, Juan Barros Moss and Cristian Ragucci.

Involved fees earner: Hugo Bruzone – Bruchou, Ferna?ndez Madero & Lombardi; José María Bazán – Bruchou, Ferna?ndez Madero & Lombardi; Andrés Chester – Bruchou, Ferna?ndez Madero & Lombardi; Juan Barros Moss – Bruchou, Ferna?ndez Madero & Lombardi; Cristian Ragucci – Bruchou, Ferna?ndez Madero & Lombardi; Carolina Curzi – Errecondo, Gonzalez & Funes ; Delfina Lynch – Errecondo, Gonzalez & Funes ; Nicholas Kronfeld – Davis Polk & Wardwell; Pedro Bermeo – Davis Polk & Wardwell; Andrew Terjesen – Davis Polk & Wardwell; Joshua Sills – Davis Polk & Wardwell; Kathleen Ferrell – Davis Polk & Wardwell; Omer Harel – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell;

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

Clients: Merrill Lynch, Pierce, Fenner & Smith Incorporated; JP Morgan Securities; Itaú BBA USA Securities; Banco Supervielle S.A. ; AR Partners ; Grupo Supervielle S.A. ;

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Author: Ambrogio Visconti.