Bruchou, Fernández Madero & Lombardi and Tanoira Cassagne Abogados advised in Luz de Tres Picos S.A. first Notes issuance which qualify as Green Bonds.
Bruchou, Fernández Madero & Lombardi advised Luz de Tres Picos S.A. (the “Company”) and Tanoira Cassagne Abogados advised Banco Itaú Argentina S.A., Banco de Galicia y Buenos Aires S.A.U., Banco BBVA Argentina S.A., Banco Santander Río S.A., PP Inversiones S.A., Balanz Capital Valores S.A.U., Itaú Valores S.A, Industrial and Commercial Bank of China S.A.U., Banco Patagonia S.A., Max Capital S.A. and BACS Banco de Crédito y Securitización S.A as placement agents (together “Placement Agents”), in Luz de Tres Picos S.A.’s first issuance of serie I notes for an amount of US$ 30,000,000 (dollars thirty million), which qualify as Green Bonds (the “Serie I Notes”). The Serie I Notes were issued under Luz de Tres Picos´s US$100,000,000 (dollars one hundred million) (or its equivalent in other currencies) Global Notes Program.
The Company received offers for the Serie I Notes for an amount of US$ 108,927,721, which is more than three times the offered amount of Series I. In addition, the interest rate was set at 0%.
The Serie I Notes were issued in line with the four main components of the International Capital Market Association’s Green Bond Principles, were issued following the ‘Guidelines for the Issuance of Social, Green and Sustainable Marketable Securities in Argentina and the provisions of the Social, Green and Sustainable Bonds Guide of the Argentine Stock Exchange and Markets Panel (ByMA). Thus, in the green bond evaluation carried out by FIX SCR S.A., they have been qualified as “BV1 (arg)”.
The Serie I Notes have been authorized for its listing on ByMA’s Green Panel and for its negotiation on Mercado Abierto Electrónico S.A. (“MAE”).
Legal counsel to Luz de Tres Picos S.A.
Bruchou, Fernandez Madero & Lombardi: Partner José María Bazán and associates Manuel Etchevehere and Valentín Alfredo Bonato.
Luz de Tres Picos S.A. in-house legal counsel: Mariano Juarez Goñi, Florencia Fridman and Anabela Mengoni.
Legal counsel to the Placement Agents
Tanoira Cassagne Abogados: Partners Alexia Rosenthal and Jaime Uranga and associates Rocío Carrica, Pilar Domínguez Pose, Rodrigo Cordoba and Carolina Mercero.
Placement Agents in-house legal counsel
Banco Itaú Argentina S.A. e Itaú Valores S.A.: Leonardo A. Micucci and Luisina Rossi.
Banco de Galicia y Buenos Aires S.A.U.: Enrique Cullen, Fernan Pereyra de Olazabal and Patricia Araujo.
Banco BBVA Argentina S.A.: María Gabriela Mancuso and María Dolores Distefano.
Banco Santander Río S.A.: Eduardo Ramos, Ignacio Garcia Deibe and Clarisa Prado.
PP Inversiones S.A.: Joaquín Vidal.
Balanz Capital Valores S.A.U.: Ana Paula Dandlen and Luciano Taraciuk.
BACS Banco de Crédito y Securitización S.A.: Solange Spinelli and Pablo Vidal Raffo.
Industrial and Commercial Bank of China S.A.U.: Matías Filippo and Luciana Vásquez.
Banco Patagonia S.A.: Natalia Gianelli.
Max Capital S.A.: Ignacio Méndez.