Tarjeta Naranja’s $8,5 Million Class XLVII Notes Offering

Beccar Varela advised on the deal.

On April 6th, 2021, Tarjeta Naranja S.A., Argentina’s leading credit card issuer, issued Class XLVII Notes, denominated, subscribed, and payable in U.S. Dollars, in the amount of US$8,500,000, which were issued to refinance part of the Class XXXVII Notes, in compliance with the provisions of BCRA Communications “A” 7106 and “A” 7230. Class XLVII Notes, which mature on April 28th, 2023, will accrue interest at a fixed rate of 7% n.a. and the principal will be amortized in a single payment on the due date. FIX SCR S.A. has rated them “AA-(arg)”.

The issuance was carried out under the Global Short, Medium and/or Long-term Notes Issuance Program for a nominal amount of up to U$S1,000,000,000,000 (or its equivalent in other currencies, units of measure, or units of value).

Class XLVII Notes has been admitted for listing in Bolsas y Mercados Argentinos S.A. and authorized for trading in the Mercado Abierto Electrónico S.A.

Banco de Galicia y Buenos Aires S.A.U. acted as organizer and placement agent.

Beccar Varela advised all parties involved with a team led by Luciana Denegri (Picture) and Pablo J. Torretta, assisted by María Victoria Pavani, Gonzalo Ochoa and María Inés Cappelletti.

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

Law Firms: Beccar Varela;

Clients: Banco de Galicia y Buenos Aires S.A.; Tarjeta Naranja S.A. ;

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