DLA Piper Argentina advised Empresa Distribuidora de Electricidad de Mendoza S.A. (hereinafter, “Edemsa” or the “Issuer”) on the successful issuance and placement of its Class 3 Additional Notes, denominated, subscribed, and payable in U.S. dollars in Argentina, at a fixed rate of 8%, maturing on November 29, 2027, for an amount of USD 12,332,560, and its Class 5 Notes, denominated, subscribed, and payable in Pesos, at a variable interest rate equal to the TAMAR Rate plus a 7% margin, maturing on May 12, 2026, for ARS 13,948,834,000 (hereinafter, the “Notes”).
TCA Tanoira Cassagne advised Global Valores S.A. and Balanz Capital Valores S.A.U. as arrangers and placement agents, and Banco Supervielle S.A., Provincia Bursátil S.A., Banco de la Provincia de Buenos Aires, Banco Mariva S.A., Bull Market Brokers S.A., Invertironline S.A.U., Macro Securities S.A.U., Adcap Securities Argentina S.A., Facimex Valores S.A., and Puente Hnos S.A. in their roles as placement agents (collectively, the “Placement Agents”).
The Notes were issued under the Issuer’s Global Program for the Issuance of Non-Convertible Notes for a maximum outstanding amount of up to USD 400,000,000 (or its equivalent in other currencies and/or units of value or measure).
The issuance of the Class 3 Additional Notes was carried out as a reopening of the original Class 3 issuance, successfully increasing the total amount available in the market under such class and strengthening Edemsa’s presence in the local capital markets.
The Class 3 Additional Notes were issued on May 12, 2025, and will pay interest semiannually, with the first payment scheduled for November 29, 2025.
The Class 5 Notes were issued on May 12, 2025, and will pay interest quarterly, with the first payment scheduled for August 12, 2025.
Edemsa will use the net proceeds from the issuance of the Notes to invest in infrastructure projects, including, but not limited to, the development and implementation of the Issuer’s investment plan, working capital, and general corporate purposes.
Legal counsel to Edemsa
DLA Piper Argentina advised Edemsa, as issuer, with a team composed by its partner Alejandro Noblia, and its associates Federico Vieyra and Mariana Carbajo.
Internal Legal counsel to Edemsa
Andrés Aruani provided Edemsa internal legal advice, as issuer.
Legal counsel to the Placement Agents:
TCA Tanoira Cassagne advised the Placement Agents through its partners Alexia Rosenthal, Jaime Uranga and Ignacio Criado Díaz and its associates Teófilo Trusso and Stefanía Lo Valvo.
Financial Advisors
Quantum Finanzas S.A.:Juan Bruno and Juan Martin Ormachea.
Apeiron Capital Markets S.A.:Tomás Rozemberg
