Bomchil and Marval O’Farrell Mairal participate in the issuance of secured notes of Aluar Aluminio Argentino for an aggregate amount of US$137,898,136

Aluar Aluminio Argentino S.A.I.C. is a company with domestic capital, managed in accordance with the most demanding international industry standards and in constant evolution. Thanks to a continuous investment plan, its current aluminum production capacity is 460,000 tons per year, enabling it to fully supply the domestic market and export 70% of its production to various markets, including NAFTA countries, Latin America, and Asia.

On October 12, 2023, Aluar issued hard-dollar fixed-rate Notes with a nominal annual rate of 7.00%, maturing on October 12, 2028, integrated and payable in U.S. dollars abroad, for an aggregate amount of US$137,898,136 (the “Series 7 Notes”).

The payment of the Series 7 Notes will be guaranteed through: (i) the granting of a first-ranking real guarantee (pledge) on all Aluar's receivables under aluminum export contracts with certain customers to Citibank, N.A., acting as the security agent (“Security Agent”), and (ii) the granting of a first-ranking real guarantee (pledge) on all funds deposited in the collection account assigned to the guarantee in line with the provisions of Communication “A” 7770 (and its amendments and supplements) of the Central Bank of the Argentine Republic and in accordance with the provisions of the guarantee agreement entered into between Aluar, Citibank, N.A., as the Security Agent, the bank holding the collection account, and TMF Trust Company (Argentina) S.A., as the representative of the bondholders. This agreement is governed by the laws of the State of New York, United States of America.

The Series 7 Note are listed and traded on Bolsas y Mercados Argentinos S.A. and Mercado Abierto Electrónico S.A., respectively.

It is noteworthy that the Notes feature a novel and unique structure not only due to the foreign law-governed guarantee but also because of the foreign law applicable to the obligation and the place of payment of the Notes.

The placement of the Series 7 Notes was managed by SBS Trading S.A. and Banco Santander Argentina S.A., acting as arrangers and placement agents (the “Arrangers”), and by Alchemy Valores S.A., Balanz Capital Valores S.A.U., Banco Comafi S.A., and Puente Hermanos S.A., acting as placement agents (together with the Arrangers, the “Placement Agents”). Additionally, TMF Trust Company Argentina S.A. will act as the representative of the holders of the Series 7 Notes (the “Bondholders’ Representative”).

Bomchil served as the legal advisor to Aluar, while Marval O’Farrell Mairal acted as legal advisor to the Placement Agents and the Bondholders’ Representative.

Linklaters LLP (New York) provided legal counsel to Citibank NA, the Security Agent.

Legal Advisors for Aluar Aluminio Argentino S.A.I.C.

Bomchil acted as external legal counsel to Aluar, with a team consisting of partners María Victoria Funes and Fermín Caride, and associates Luciano Zanutto, Hugo Bruzone (h), and Yazmín S. Tek.

Legal Advisors for the Placement Agents and the Bondholders’ Representative

Marval O’Farrell Mairal acted as external legal advisor to the Placement Agents, with a team consisting of partners Gabriel G. Matarasso and Sergio Talamo, and associates Juan Pablo Lentino, Lautaro Penza, and Sebastian Swinnen and as external legal advisor to the Bondholders’ Representative, with a team consisting of partner Roberto E. Silva, and associates Martín Lanús and Mauro Dellabianca.

Legal Advisors for Aluar Aluminio Argentino S.A.I.C. regarding U.S. Law

Linklaters LLP served as legal advisor to the Security Agent, with a team consisting of partners Michael Bassett, Conrado Tenaglia, and associates Juan Mata, Ramón Augusto Poliche, and Mario Lercari.

Legal Advisors for the Security Agent regarding U.S. Law

Alston & Bird served as legal advisor to Brad Johnson and Christina Garrett.