Bruchou & Funes de Rioja acted as deal counsel on the recent opening issuance and placement in Argentina of fixed nominal annual 1.95% interest rate trust securities for an aggregate amount of US$7,300,000 (the “Securities”) under the Trust. TMF Trust Company (Argentina) S.A. acted as trustee and SBS Trading S.A. together with Allaria S.A. acted as arranger and placement agents.
The Argentine Exchange Commission (Comisión Nacional de Valores) authorized the public offering of the Securities on September 24, 2024 and the securities were issued on October 3, 2024. The Securities have been admitted for trading on the Mercado Abierto Electrónico S.A.
The proceeds of the Securities are going to be used to finance part of the construction of the “Udaondo Buenos Aires” real estate development taking place in the district of Nuñez, City of Buenos Aires, Argentina (https://udaondobuenosaires.com/). In this sense, as long as holders of the Securities comply with the conditions set forth in the offering documents, they will be entitled to convert their outstanding principal amount of Securities, for eligible departments to be constructed under the “Udaondo Buenos Aires” real estate development.
Bruchou & Funes de Rioja acted as counsel of the transaction through the team led by partners Matías López Figueroa and José María Bazán together with associates Leandro Exequiel Belusci, Ramón Augusto Poliche, Manuel Etchevehere, Quimey Lía Waisten, Pedro María Azumendi and Malena Tarrio.