On August 6th, Genneia S.A. (“Genneia”) issued Notes for a nominal value equivalent to US$64,577,196: (i) Class XXXII Notes denominated in U.S. Dollars, subscribed and payable in Argentine Pesos at the exchange rate established in the offering documents (dollar-linked); and (ii) Class XXXIV Notes denominated, subscribed and payable in U.S Dollars (jointly, the “Notes”).
The Notes comply with (i) the four main components of the ICMA’s (International Capital Market Association) Green Bond Principles 2018 (GBP), (ii) the Guidelines for the Issuance of Social, Green and Sustainable Negotiable Securities in Argentina, as set forth in the Rules of the National Securities Commission, and (iii) the Guide to Social, Green and Sustainable Bonds at the Bolsas y Mercados Argentinos S.A. Panel (“BYMA”). In addition, Genneia has a Second Party Opinion issued by Sustainalytics, an external reviewer, confirming that the Genneia’s Green Bond Framework is impactful and aligns with the four main components of the GBP.
Class XXXII Notes’ will be due 24 months after the issuance date, that is, on August 10th, 2023. They will accrue interest at a fixed nominal annual rate of 3.50% and they will amortize the capital in one single instalment on the due date.
On the other hand, Class XXXIVNotes’ will be due 36 months after the issuance date, that is, on August 10th, 2024. They will accrue interest at a fixed nominal annual rate of 6.00% and they will amortize the capital in four semi-annual instalments starting February 10th, 2023.
Both Classes of Notes have been admitted for listing in the SVS Panel of BYMA, and authorized for its negotiation in the Mercado Abierto Electrónico S.A.
FIX SCR S.A. rated the Notes A+ (arg)..
Under this issuance, (i) Banco Macro S.A. acted as arrangement agent; and (ii) Macro Securities S.A., Balanz Valores S.A.U., Banco BBVA Argentina S.A., Banco de Servicios y Transacciones S.A., Banco Patagonia S.A., Facimex Valores S.A., Max Capital S.A., BACS Banco de Crédito y Securitización S.A. y Banco Hipotecario S.A. acted as placement agents ((i) and (ii) jointly, the “Placement Agents”).
This issuance is supported by Bruchou’s new Climate Action and Sustainable Business Platform , which has been created in order to meet the growing demand from our clients regarding a matter that is increasingly prominent on global, regional and local corporate agendas. We believe that climate action should be urgently taken to reduce carbon emissions compatible with the objectives of the UN Paris Agreement. In that sense, Bruchou participated in almost all of the green bond issues in the local and international market” explained José María Bazán, partner of Banking & Capital Markets.
Legal advisors of the transaction:
Socio Bazán, José María y asociados Ragucci, Cristian y Etchevehere. Manuel.
Other relevant transactions in which we participate