Marval O’Farrell Mairal and TCA Tanoira Cassagne advised on issuance of notes of Edenor for an amount of US$ 100.000.000.


On March 7, 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 3 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 a total amount of US$ 95,762,688, at an annual fixed rate of 9.75% with semi-annually interest payments (the “Class 3 Notes”); and (ii) class 4 notes, denominated and payable in Argentine Pesos, with a face amount of $ 3,577,350,656, which bear a variable interest rate corresponding to the sum of the ‘Badlar Privada’ Rate and a 5% margin and quarterly interest payments (the “Class 4 Notes” and, together with the Class 3 Notes, the “Notes”).

Balanz Capital Valores S.A.U., Global Valores S.A. e Industrial and Commercial Bank of China (Argentina) S.A.U., en su rol de agentes colocadores y organizadores, y 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., PP Inversiones S.A., Invertironline S.A.U., Bull Market Brokers S.A., e Inviu S.A.U. acted as placement agents in the issuance of the Class 6 Notes (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 use all of the net proceeds from the issue to invest in infrastructure projects that qualify as investments in Regulatory Capital Assets, including the development and execution of the Issuer’s investment plan, which it is required to carry out under the current regulatory framework.

Legal counsel to Edenor

Marval O’Farrell Mairal acted as counsel to Edenor, with a team formed by partners Javier Etcheverry Boneo and Sergio Talamo, and associates Martín I. Lanús and Francisco Vignati Otamendi.

Internal Legal counsel to Edenor

María José Pérez Van Morlegan, Federico Ponelli and 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.

In-house legal counsel to the Placement Agents:

Industrial and Commercial Bank of China (Argentina) S.A.U.: Sonia Lannutti.

Banco Mariva S.A.: María Eugenia Ataefe.

SBS Trading S.A.: Catalina Menéndez.

Macro Securities S.A.U.: Rodrigo Covello y Valeria Lopez Marti

PP Inversiones S.A.: Rosario Guevara Lynch y Paloma Rousset.

Inviu S.A.U.: Rodolfo Christophersen.

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