For investors: Savant will place ON for up to US $ 4 million

The Cordovan company Savant, whose industrial complex is in El Tío (130 kilometers east of the city of Córdoba, in the San Justo department), announced that it will go out to place debt in the local market, through two types of negotiable obligations ( ON).

According to the market, it plans to issue debt of up to four million dollars or the equivalent in pesos.

The subscription notice details that one of the instruments will be the Class L ON, in pesos, for 150 million, but expandable up to 275 million pesos, at a variable rate (Badlar private banks plus the cutoff margin of the tender), for a 12 month term.

The other is the ON Class M, in dollar linked, at a fixed rate, for 2.5 million dollars but with the possibility of reaching up to 4 million dollars, with a term of 24 months.

In any case, it was clarified that the sum of the two ONs “cannot together exceed the total amount of 4 million dollars or its equivalent in pesos.”

The issue is part of Savant’s global program for up to 500 million pesos to place debt through ON.

The operation is organized by the Cordoba-based Trust Capital, which will also be a placement agent together with AR Partners, from Buenos Aires.