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Tanoira Cassagne Abogados and Beccar Varela advised on BICE’s new issuance of notes

Tanoira Cassagne Abogados
Argentina ,   18 de julio de 2019

Tanoira Cassagne Abogados and Beccar Varela advised on BICE’s new issuance of notes

Tanoira Cassagne Abogados advised Argentine development bank Banco de Inversión y Comercio Exterior S.A under the issuance of Series 9 notes, worth AR$ 1.500 million (approx. US$ 34 million). The Series 9 Notes where oversubscribed for more than AR$ 3,000 million (approx. US$76 million).

Beccar Varela advised Banco de Galicia y Buenos Aires S.A.U., Banco Macro S.A., Macro Securities S.A., Banco de Servicios y Transacciones S.A. and Nación Bursátil S.A., as organizers and placement agents for the issuance.
The issuance of the Series 9 notes was completed on July 16, 2019. The notes were listed on Bolsas y Mercados Argentinos S.A. through the Buenos Aires Stock Exchange, and traded on Mercado Abierto Electrónico S.A.
BICE will use the proceeds of Class Series 9 notes to fund loans to borrowers that qualify as "small and medium size companies" —according to the regulations of the Argentine Securities Commission (Comisión Nacional de Valores) which, in turn, shall allocate the borrowed funds for working capital and investments in tangible assets in Argentina.

BICE’s main business purpose is to consolidate as a bank facilitating medium and long term financing destined to productive investment and foreign trade, focusing on small and medium size enterprises and targeting to priority sectors and regions determined in accordance with the Argentine Federal Ministry of Production and Labor’ (Ministerio de Producción y Trabajo) policy.

Counsel to Banco de Inversión y Comercio Exterior S.A.

Tanoira Cassagne Abogados
Partners Alexia Rosenthal and Jaime Uranga and associates Rocio Carrica, Ignacio Criado Diaz and Belen Azimonti.

Counsel to Banco de Galicia y Buenos Aires S.A.U., Banco Macro S.A., Macro Securities S.A., Banco de Servicios y Transacciones S.A. and Nación Bursátil S.A.

Beccar Varela
Partner Luciana Denegri and associates Victoria Pavani and María Inés Cappelletti.


 

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