DLA Piper represented Banco Voii S.A. in the issuance of Class VII Short-Term Debt Securities (the “Class VII CDS”) for a total face value of approximately AR$519 million.
The Class VII CDS have a term of nine months, amortize in full on the maturity date and accrue interest payable quarterly at a variable annual nominal BADLAR rate plus a cut-off margin of 4 percent.
The issuance was made under the Global Short-Term Debt Securities Issuance Program, for a nominal amount of up to US $10,000,000 (or its equivalent in other currencies). The authorization for the annual update of the Program was granted by the Argentine Securities and Exchange Commission (Comisión Nacional de Valores) on June 29, 2022.
The Class VII CDSs have been authorized for listing in Bolsas y Mercados Argentinos S.A. (BYMA) and for trading in Mercado Abierto Electrónico S.A. (MAE). Their acquisition in the primary market and transmission in the secondary markets is reserved to qualified investors under the terms of the Comisión Nacional de Valores (National Securities Commission).
The DLA Piper team consisted of partner Alejandro Noblia and associate Federico Vieyra, both of Buenos Aires.
DLA Piper Latin America’s team offers full-service business legal counsel to domestic and multinational companies with interests in and operations throughout the region. Our integrated approach to serving clients combines local knowledge with the resources of the DLA Piper global platform. With over 400 lawyers practicing throughout Argentina, Brazil, Colombia, Chile, Mexico, Peru, and Puerto Rico, our teams frequently work with our professionals throughout the LatAm region, Iberian Peninsula, and around the globe to ensure our clients receive the depth of service they require to meet their legal and business objectives.
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