Tanoira Cassagne Abogados advises on the first issuance of Notes of Grúas San Blas S.A.

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Tanoira Cassagne Abogados advises on the first issuance of Notes of Grúas San Blas S.A.

Grúas San Blas S.A.

Tanoira Cassagne Abogados advised Grúas San Blas S.A. (the “Company”) as issuer and Banco Supervielle SA, as organizer and placement agent, in the issuance of PyMEs CNV Guaranteed “Serie” I Notes for an aggregate amount of $ 100,000,000 (the “Notes”), denominated and to be paid in pesos, due on November 19, 2022, with a variable annual nominal interest rate equivalent to the Badlar Rate plus a margin of 0 %. The Notes were issued on May 19, 2021.

The Notes are fully guaranteed by Banco Supervielle S.A., as Guarantee Entity and authorized by the National Securities and Exchange Commission (“CNV”).

Grúas San Blas S.A. is dedicated to the import and distribution of machinery for industry, construction, oil & gas, mining and agriculture, under the modalities of both sale and rental. The Company represents with exclusivity in Argentina leading and worldwide recognized brands in machinery, such as Sany, Bobcat, Doosan or Manitou. It also exports packaged and bulk honey.

The net proceeds of the issue will be used by the Company to integrate working capital in the country, concentrating the purchase of inventories in the 2º and 3º quarters of the year to meet the increased demand for the purchase and rental of 0km and used machinery. 

Legal Advisors of the Transaction: Tanoira Cassagne Abogados through a team led by Partners Alexia Rosenthal and Jaime Uranga; and Associates: Juan Sanguinetti, Mariana Troncoso and Pilar Domínguez Pose.