Banco Macro Completes US$400 Million Notes Offering and Cash Tender Offer
Simpson Thacher represented Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Latin Securities S.A. Agente de Valores, as initial purchasers, in an offering by Banco Macro S.A. (“Banco Macro”) of US$400 million aggregate principal amount of its 8.000% Notes due 2031. The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended. The net proceeds from the offering will be used for the repayment and/or refinancing of Banco Macro’s existing indebtedness, investments in fixed assets in Argentina, working capital in Argentina, acquisition of companies or businesses in Argentina, capital contributions to and/or the financing of commercial activities, and/or general financing needs.
The Firm is also representing Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Latin Securities S.A. Agente de Valores as dealer managers in connection with the concurrent cash tender offer conducted by Banco Macro for its 6.750% Subordinated Resettable Notes due 2026.
Banco Macro is one of the leading private banks in Argentina and the largest in terms of number of branches, with a recognized face-to-face service complemented by digital channels.
The Simpson Thacher team included Juan M. Naveira, Kirsten L. Davis, Marcelo B. Lorenzen, Maria Belen di Cola and Juan Felipe Saenz Dussan (Capital Markets – Latin America); and Michael Mann (Tax).