DLA Piper Argentina advised Empresa Distribuidora y Comercializadora Norte S.A. (hereinafter “Edenor”) and TCA Tanoira Cassagne advised Global Valores S.A., Balanz Capital Valores S.A.U., Banco de Servicios y Transacciones S.A., Banco Mariva S.A., SBS Trading S.A., Invertir en Bolsa S.A., Macro Securities S.A.U., Adcap Securities Argentina S.A, Cocos Capital S.A. and PP Inversiones S.A. as placement agents (hereinafter the “Placement Agents”), in the placement of the US$ 30,000,000 Additional Class 2 Notes denominated and payable in U.S. Dollars at a fixed rate, maturing on November 22, (hereinafter the “Notes”).
The Notes were issued under the Global Program for the Issuance of Non-Convertible Notes for a face value of up to US$750,000,000 (or its equivalent in other currencies).
The Notes will be additional to the Class 2 Notes previously issued by the Edenor on September 22, 2022, having identical terms and conditions in all aspects, except for the issuance date, the issuance price, and the first interest payment date. Thus, they are fungible with each other and constitute a single class of debt securities, for a total face value of US$ 60,000,000.
The Notes were issued on March 7, 2023, and will pay interest semi-annually in arrears, on May 12 and November 12 of each year.
Edenor will allocate the total net proceeds resulting from the issuance to infrastructure projects.
Edenor is the largest electricity distributor in Argentina in terms of number of customers and electricity sold.
Legal counsel to Edenor
DLA Piper advised Edenor, as issuer, through its partner Alejandro Noblia, and its associates Federico Vieyra and Marcelo Ra.
Internal Legal counsel to Edenor
María José Pérez Van Morlegan, Federico Ponelli and Sabrina Belén Hernández provided Edenor internal legal advice, as issuer.
Legal counsel to the Placement Agents:
TCA Tanoira Cassagne advised the Placement Agents through its partners Alexia Rosenthal and Jaime Uranga, and its associates Ignacio Criado Díaz, Lucía Viboud Aramendi, Teófilo Trusso and Federico Grieben.
In-house legal counsel to the Placement Agents:
Balanz Capital Valores: Ana Paula Dandlen and Luciano Taraciuk.
Banco de Servicios y Transacciones:Ana Vea Murguia and Melina Lozano.
Banco Mariva: María Eugenia Ataefe and Pablo Antao.
SBS Trading:Catalina Menéndez.
Invertir en Bolsa: Emir Quiroga Assat.
Macro Securities: legally advised by Macro Securities in-house legal team.
PP Inversiones S.A.: Rosario Guevara Lynch.