Angel Estrada y Compañia SA (AESA), a leading Argentine manufacturer of school and office stationery products, successfully completed the placement and issuance in the local market of notes class 17 for a nominal value of ARS 2,509,986,666.
AESA has been competing globally for more than 145 years, offering top-quality products, and supporting education and office related ideas and content, while keeping pace with technological advances.
Marval advised AESA, as issuer; Banco de Servicios y Transacciones SAU, as organizer and placing agent; and Balanz Capital Valores SAU, Facimex Valores SA, Invertir en Bolsa SA, Banco Mariva SA, Banco de la Provincia de Buenos Aires, BACS Banco de Credito y Securitizacion SA, Adcap Securities Argentina SA, and Allaria SA as placing agents.
The class 17 notes were issued on October 3, 2025, under AESA’s Global Program for the issuance of simple notes (non-convertible into shares) for up to V/N USD 30,000,000 (or its equivalent in other currencies). The class 17 notes, denominated and payable in ARS, accrue a variable interest rate corresponding to the sum of the TAMAR rate plus a margin of 11.49% and mature on April 3, 2026.
The public offering of the notes was carried out using the flexibilities introduced by recent General Resolution 1073/2025 of the Argentine Securities Commission, under which updating the prospectus after the approval of financial statements corresponding to a new fiscal year is optional.
Marval acted as legal advisor to the transaction through its partner Sergio Talamo, together with associates Pedro Maria Azumendi and Lautaro Penza.