Grupo Albanesi makes $44m notes offering

Argentine natural gas and electricity company Grupo Albanesi has successfully carried out a notes offering as part of its global issuance program.

Posté le Monday, December 14th 2020
Grupo Albanesi makes $44m notes offering

The issuance comprised $13,076,765 in Class XIII notes due February 16th 2024, issued by Generación Mediterránea, under its S$100 million global notes program, in exchange of 66.37% of its outstanding Class X notes due February 16th 2021.

It also included the public offering of $16,354,944 of Class IV notes due April 11th 2022, which were co-issued by Generación Mediterránea and Central Térmica Roca, in exchange of 69.39% of their outstanding Class III notes due April 11th 2021, and in the public offering of $14,369,484 new Class V notes due November 27th 2022, under its $700 million global notes program.

The notes are guaranteed by Albanesi by means of an endorsement of the global certificates representing each of the notes.

The Class XIII notes and Class IV notes are denominated and payable in US dollars. The Class V notes are denominated in US dollars and payable in Argentine pesos.

Local law firm Tavarone, Rovelli, Salim & Miani acted as legal counsel to Grupo Albanesi, with a team led by partner Julieta De Ruggiero, with associates Facundo González Bustamante, Eugenia Kasangian, Felicitas Lacioppa and Eugenia Homolicsan.

Generación Mediterránea and Central Térmica Roca were also advised by Tavarone, Rovelli, Salim & Miani. Both companies were also advised by their in-house legal team, Fabiana López León, Gastón Mayorca and Mercedes Cabello.

Argentine law firm Bruchou, Fernández Madero & Lombardi acted as legal counsel to SBS Trading, Balanz Capital Valores, Banco de Servicios y Transacciones, Banco de la Provincia de Buenos Aires, Macro Securities, Allaria Ledesma & Cia., Adcap Securities Argentina and TPCG Valores, which acted as placement agents, and to SBS Capital as arranger agent.