Simpson Thacher represented BofA Securities, Inc. and J.P. Morgan Securities LLC, as initial purchasers, in an offering by Banco Macro S.A. (“Macro”) of $400 million aggregate principal amount of 8.00% Notes due 2029. The offering took place in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933.
The net proceeds from the offering will be used by Macro for the repayment and/or refinance of indebtedness, investments in fixed assets located in Argentina, working capital, acquisition of companies or businesses, capital contributions to and/or the financing of commercial activities of certain of its related companies, and/or general financing needs.
Macro is one of the leading private banks in Argentina. With 511 branches and 2,081 ATMs, it has the most extensive branch network among private-sector banks in Argentina.
The Simpson Thacher team includes Juan M. Naveira, Kirsten L. Davis, Begoña Rodriguez and Caio Vianna (Capital Markets – Latin America); and Jonathan Cantor and Jiha Min (Tax). Summer associates Magdalena Albar Diaz and Maria de los Angeles Villareal provided valuable assistance.