IRSA Inversiones y Representaciones Completes Debt Exchange Offer
07.11.22
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Simpson Thacher represented IRSA Inversiones y Representaciones S.A. (“IRSA”) in connection with its offer to exchange any and all of its outstanding US$360 million 8.75% Notes due 2023, Series No. 2, originally issued by IRSA Propiedades Comerciales S.A. (the “Existing Notes”) for new 8.75% Senior Notes due 2028 (the “New Notes”) and cash consideration. 66.38% of the Existing Notes were tendered and accepted in the exchange offer and US$171,202,815 aggregate principal amount of New Notes were issued.
IRSA is one of Argentina’s leading real estate companies. Global depositary shares representing its common shares are listed on the New York Stock Exchange (NYSE: IRS).
The Simpson Thacher team included Jaime Mercado, Juan M. Naveira, Alejandro De Ramón-Laca, Marcelo Lorenzen, Antonio Ribichini and Mónica Yrrarazabal (Capital Markets); and Jonathan Cantor and Kris Liu (Tax).