Empresa Distribuidora de Electricidad de Mendoza (EDEMSA), one of the main electricity distributors in the province of Mendoza, successfully completed the international issuance of its Class 6 negotiable obligations, denominated and payable in US dollars, under its global issuance program of up to US$400 million (or its equivalent in other currencies), authorized by the National Securities Commission (CNV).
The firms DLA Piper, Bruchou & Funes de Rioja, Clifford Chance US LLP and Reed Smith advised on the issuance of these bonds.
The Class 6 bonds were issued at a price of 92.930% of their nominal value, for a total amount of US$150,000,000, and accrue interest at an incremental interest rate according to the following scheme: 9.75% per annum until July 28, 2029, 10.75% until July 28, 2030 and 11.75% until their maturity on July 28, 2031. The principal will be amortized in three substantially equal installments starting in 2029.
The issuance was carried out in accordance with Rule 144A and Regulation S of the United States Securities Act of 1933 and the Negotiable Obligations were admitted to trading on the Official List of the Luxembourg Stock Exchange and to listing on its Euro MTF Market, as well as on Bolsas y Mercados Argentinos SA and A3 Mercados SA
BofA Securities and UBS Securities acted as international placement agents (Initial Purchasers) in the international offering, while Balanz Capital Valores SAU and Global Valores SA acted as local placement agents in Argentina.
The Bank of New York Mellon acted as trustee, co-registration agent, principal paying agent and transfer agent pursuant to the trust agreement (as supplemented from time to time) entered into with EDEMSA, and Banco de Valores acted as the trustee's representative in Argentina, registration agent, transfer agent and paying agent in Argentina.
Legal Advisors
EDEMSA's legal advisors under United States law:
- DLA Piper Argentina and New York: Partners Marcelo Etchebarne and Josh Kaufman. Of counsel Nicolás Teijeiro. Senior associates Daiana Suk and Ignacio Bard. Associate Marcos Taiana.
EDEMSA's legal advisors under Argentine law:
- DLA Piper Argentina: Partner Alejandro Noblía. Associates Federico Vieyra and Mariana Carbajo.
- EDEMSA's in-house lawyers: Andrés Aruani (Legal Affairs Manager), María Carolina Reta (Lawyer specializing in corporate law) and Carina Cocuelle (Deputy Regulatory Affairs Manager).
Legal advisors to international and local underwriters under United States law:
- Clifford Chance US LLP: Partner Hugo F. Triaca. Associates David Rondon, Juan Andrés Bosch and Cristian Ragucci.
Legal advisors to international and local placement agents under Argentine law:
- Bruchou & Funes of Rioja: Partner Alexander Perelsztein. Associates Juan Maria Rosatto and Teo Panich.
Legal advisors to the trustee, co-registration agent, principal paying agent, and transfer agent
- Reed Smith LLP: Socio Adam Solowsky.
