Mercedes-Benz successfully completed the offering of its Series 26 and 27 Notes under its AR$800,000,000 Note Program in the Argentine debt market
Errecondo, Gonz�lez & Funes Abogados advised Mercedes-Benz Compa��a Financiera Argentina S.A., the Argentine financing arm of Germany�s Mercedes Benz, in the offering of its Series 26 Notes worth AR$5.000.000, and series 27 Notes worth AR$145.000.000.
Tanoira Cassagne Abogados counselled the placement agents in this transaction, Banco de Galicia y Buenos Aires S.A. and Banco Ita� Argentina S.A.
The Series 26 Notes are peso denominated fixed rate notes, maturing in 12 months and bearing an interest at 27.23% annual rate. The Series 27 Notes are peso denominated variable rate notes, maturing in 18 months and bearing an interest at Badlar Rate (a floating interest rate published by the Argentine Central Bank) plus an annual margin of 3.90%. The notes were issued on October 29, 2015.
Mercedes Benz will apply the net cash proceeds of this offering for the granting of new loans for the acquisition, within Argentina, of new commercial vehicles of the brand Mercedes Benz, mainly including buses (urban and interurban), trucks and utility vehicles (medium and large).
Counsel to Mercedes-Benz Compa��a Financiera Argentina S.A.: Errecondo, Gonz�lez & Funes Abogados. Partner Carolina Curzi and associates Mar�a Constanza Martella and Delfina Lynch.
Counsel to the Placement Agents: Tanoira Cassagne Abogados. Partner Alexia Rosenthal and associates Roc�o Carrica and Ignacio Nantes. Errecondo, Gonz�lez & Funes Abogados y Tanoira Cassagne Abogados asesoran en la emisi�n de las Obligaciones Negociables de Mercedes Benz