On August 5, 2024, Empresa Distribuidora y Comercializadora Norte S.A. (“Edenor”), the largest electricity distributor in Argentina in terms of number of customers and electricity sold, successfully issued (i) class 5 notes, integrated in U.S. Dollars and/or in kind through the delivery of Class 2 Notes, denominated and payable in U.S. Dollars, for an amount of US$ 81.920.187, at an annual fixed rate of 9.50% with semi-annually interest payments (the “Class 5 Notes”); and (ii) class 6 notes, denominated and payable in Argentine Pesos, for an amount of $ 17.313.352.309, which bear a variable interest rate corresponding to the sum of the ‘Badlar Privada’ Rate and a 7,00% margin and quarterly interest payments (the “Class 6 Notes” and, together with the Class 5 Notes, the “Notes”).
Balanz Capital Valores S.A.U., Global Valores S.A. acted as arrangers and placements agents and Industrial and Commercial Bank of China (Argentina) S.A.U., Banco Mariva S.A., Banco de Servicios y Transacciones S.A., Invertir en Bolsa S.A., SBS Trading S.A., Adcap Securities Argentina S.A, Banco Supervielle S.A., PP Inversiones S.A., Bull Market Brokers S.A., Invertironline S.A.U., Inviu S.A.U., Provincia Bursátil S.A. y Banco de la Provincia de Buenos Aires acted as placement agents (the “Placement Agents”).
The Notes are authorized to be traded in Bolsas y Mercados Argentinos S.A. and Mercado Abierto Electrónico S.A.
Edenor will allocate the entire net proceeds from the issue to invest in infrastructure projects, including the development and implementation of the Issuer’s investment plan, which provides for works to improve, expand and modernize the infrastructure of its networks, which include new supplies, transmission, subtransmission, distribution and improvements in high, medium and low voltage networks.
Legal counsel to Edenor
DLA Piper acted as counsel to Edenor, with a team formed by managing partner, Marcelo Etchebarne, partner Alejandro Noblia, and associates Federico Vieyra and Marcelo Ra
Internal Legal counsel to Edenor
The Director of Legal and Regulatory Affairs María José Pérez Van Morlegan, Legal Affairs Manager Federico Ponelli and Senior Lawyer Sabrina Belén Hernández provided in-house legal advice to Edenor, as issuer.
Legal counsel to the Placement Agents
TCA Tanoira Cassagne acted as counsel to the Placement Agents, with a team formed by partners Alexia Rosenthal, Jaime Uranga and Ignacio Criado Diaz, and associates Lucía Viboud Aramendi, Teófilo Trusso and Juan Francisco Tineo.
