Bomchil participated in the granting of 3 bilateral loans in favor of Aeropuertos Argentina 2000 and in the refinancing of its offsh

Bomchil participated in the granting of 3 bilateral loans in favor of Aeropuertos Argentina 2000 and in the refinancing of its offshore loan

Bomchil and Marval O’Farrell Mairal recently acted as counsel in respect of four bilateral loansfor a total aggregate amount in pesos equivalent to USD 11,000,000 granted to Aeropuertos Argentina 2000 S.A. (AA2000) by Banco de Galicia y Buenos Aires S.A.U. (Banco Galicia), the branch of Citibank N.A., established in the Republic of Argentina (Citibank Argentina), Banco Santander Río S.A. (Santander Argentina) and Industrial and Commercial Bank of China (Argentina) S.A. (ICBC) (the Bilateral Loans).

The Bilateral Loans were granted with the purpose of refinancing the principal amortization payments due in February 2021 and payable by AA2000 (i) to Banco Galicia, Santander Argentina and ICBC, under an onshore credit facility entered into by and between AA2000, Banco Galicia, Santander Argentina and ICBC in 2019, as amended from time to time, and (ii) 40% of the principal amortization payment due in February 2021 payable to Citibank N.A. under an offshore credit facility entered into by and between AA2000 and said entity, as amended from time to time.

Likewise, as required pursuant to Argentine Central Bank Communication “A” 7106, 60% of the principal amortization payments due in February 2021 and payable by AA2000 to Citibank N.A. under the offshore credit facility has been refinanced for a 2-year term.

The Bilateral Loans are secured by the assignment in trust of the freight charges collected by AA2000 through Terminal de Cargas Argentina, a business unit of AA2000.

AA2000 is the biggest airport concessionaire in Argentina since 1998 and it has the right, under a Concession Agreement entered into with the Argentine Government, to use, operate and manage 35 of the 54 airports in the Argentine airport system, including the two most transited airports in Argentina.

Marval O’Farrell Mairal acted as counsel to Banco Galicia, Citibank Argentina, ICBC and Santander Argentina and Bomchil acted as counsel to AA2000.

It should be noted that these Bilateral Loans are part of a vast list of recent transactions of AA2000 in which Marval and Bomchil have acted as counsel, including the issuance of AA2000’s notes in 2017 and their exchange offer in 2020 in the context of the COVID-19 pandemic, the Initial Public Offering of the shares of Corporación América Airports S.A., parent company of AA2000, the granting of certain credit facilities to AA2000 in 2019 and their refinancing in 2020 (which occurred simultaneously with the exchange offer), and the latest local Argentine issuance of AA2000 0% notes due 2022.

Participating counsel:

Argentina:

Bomchil acted as counsel to AA2000, through a team led by partners Patricio Martin and María Victoria Funes assisted by associate Luciano Zanutto.

Marval O’Farrell Mairal acted as counsel to Banco Galicia, Citibank Argentina, ICBC and Santander Argentina, through a team led by partner Roberto E. Silva, assisted by associate Agustín López Roualdès.