Asesoramiento y Transacciones
Mi茅rcoles 22 de Mayo de 2013
ZBV Abogados advises Cresud in record debt issuance
Zang, Bergel & Vi帽es Abogados advised agricultural company Cresud S.A.C.I.F. y A. in the issuance of the Seventh Series of Notes, Series 14, issued under the Company鈥檚 Global Note Program for up to the sum of US$ 300,000,000 or the equivalent in other currencies. On May 22nd 2013, the Company successfully completed the issuance for a total amount of US$ 32 million, representing an oversubscription of almost 2.7x the original book.
The Notes have a maturity of 60 months from its issue date, and were issued at a nominal value of US$ 32 million (equivalent to AR$ 167,526,400), at an issue price of 100% of the nominal amount, at a fixed rate of 1.5% per year, payable on a quarterly basis.
This transaction represents a milestone for the company and for the local capital markets, not only for the term of maturity and the duration of the Notes, which are the longest ever for a local company in the local market, but also, for the amount of the final book and the interest rate obtained, the lowest obtained by an Argentinean company for this type of bond and maturity in the local market.
Banco Hipotecario, BACS Banco de Cr茅dito y Securitizaci贸n S.A. and Banco Galicia y Buenos Aires S.A. acted as lead managers and coordinators, while Industrial and Commercial Bank of China (ICBC Argentina) S.A., INTL CIBSA Sociedad de Bolsa S.A., Puente Hnos and MAE S.A. acted as underwriters of the issuance.
Zang, Bergel & Vi帽es Abogados acted as legal advisor to Cresud through partner Carolina Zang and associate Pablo Schreiber.
P茅rez Alati, Grondona, Benites, Arntsen & Martinez de Hoz acted as legal advisor to the underwriters through partner Diego Serrano Redonet and associates Jos茅 Luis Foglia and Pablo Fekete.
Opini贸n
Bienvenidos los cambios en el proceso sumario de Defensa de la Competencia
Por
Luis Diego Barry
P茅rez Alati, Grondona, Benites & Arntsen
P茅rez Alati, Grondona, Benites & Arntsen
opini贸n
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Por Ricardo I. Kennedy
Diaz Bobillo, Vittone, Carassale, Richards & Goyenechea Abogados
Diaz Bobillo, Vittone, Carassale, Richards & Goyenechea Abogados
Por Pablo Alejandro Pirovano
PASBBA Abogados
PASBBA Abogados
Por Tom谩s Guido (*)
Estudio Durrieu
Estudio Durrieu
Por Federico Rocca
Rocca Consulting
Rocca Consulting
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De TCA TANOIRA CASSAGNE
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