On February 25, 2025, Club Atlético River Plate Asociación Civil carried out its first issuance of negotiable obligations under the special framework for social impact issuances, becoming the first football club in Argentina to issue corporate debt in the capital markets.

 

The Series I Notes, maturing on February 27, 2027, were issued for a nominal amount of AR$12,000,000,000 and accrue interest at a variable rate equivalent to the TAMAR Rate plus a 3.89% margin.

 

Additionally, the Notes are aligned with the Social Bond Principles (SBP) of the International Capital Market Association (ICMA). The social bond qualification was issued by the Universidad Nacional de Tres de Febrero (UNTREF) as an external reviewer. In its report, UNTREF concluded that the issuance complies with the four core components of ICMA’s Principles, generating a positive social impact, and classified the Notes as a “BS2+” social bond.

 

The Club will allocate the funds raised from the issuance primarily to finance the construction of a new Casa River, a project designed to provide accommodation and comprehensive training for young football players to ensure an environment conducive to the athletic and educational development of players from diverse regions and socioeconomic backgrounds.

 

The Club has requested the listing of the Notes on the SVS bond panel of Bolsas y Mercados Argentinos S.A. and A3 Mercados (formerly Mercado Abierto Electrónico S.A.).

 

In this issuance, Banco Supervielle S.A., Banco BBVA Argentina S.A., Banco CMF S.A., Banco de Valores S.A., and Banco Comafi S.A. acted as organizers, placement agents, and guarantors, while Latin Securities S.A., Invertir Online S.A., and Allaria S.A. acted as placement agents.

 

Beccar Varela’s legal team, advising on the transaction, was led by Luciana Denegri, with the participation of María Victoria Pavani, Julián Alejandro Ojeda, Martina Puntillo, and Carlos Nicolás Saúl Lucero, while the team of Tavarone, Rovelli, Salim & Miani, integrated by Francisco Molina Portela, Federico Salim, Ramiro Catena and Agustin Ponti, acted as legal advisors for the Issuer.