An IRSA farm entered an ON for $ 15 million, but received offers for $ 1,000 million

In the midst of exchange rate tension and the escalation of the blue dollar, Futures and Options (FyO), the subsidiary of IRSA / Cresud and specialized in the provision of services to agriculture, has successfully placed an issue of Negotiable Obligations (ON) for $ 15 million.

IRSA owns the main shopping centers in Argentina and controls 51% of FyO. The transaction was carried out at zero interest, in a currency linked to the dollar with a projectile expiry of three years, in July 2025. What is striking is that in the midst of the collapse of the markets in recent days, the company it received offers worth $ 1,000 million against the original claim amount of US $ 15 million.

The banks and financial institutions that participated in the issue as underwriters were BACS, Banco Hipotecario, Rosental, Facimex, Santander, Galicia, AWM Valores, fyoCapital, Balanz and Bind Inversiones. The issuer is rated AA- (Arg) by FIX SCR Argentina.

Funds from this placement will be used for finance working capital of the company to face the growth plan for the next four years, the financing of infrastructural works for the new commercial offices and the progress of the digital transformation project.

FyO was one of the first Argentine companies to provide information and services to businesses for agriculture via the Internet.

In 2016 FyO created Amauta, a company dedicated to the development of nutritional inputs, which seeks to promote more efficient and sustainable agriculture. It already has operations in Uruguay, Chile, Bolivia and soon in Paraguay and Brazil.

Alejandro Larosa, co-founder and CEO of the company, commented: “We are very happy to contribute to the development of the Argentine capital market as it is essential to promote the economic growth of companies. We take this as a sign of the trust that Fyo has generated in its over 20 years of history ”.

Two weeks ago, IRSA Inversiones y Representaciones carried out a debt exchange in which the 66.38% of bondholders maturing in March 2023 accepted another bond maturing in March 2028. They entered the swap $ 238.9 million of the total of US $ 360 million.

The new stock keeps the interest rate of 8.75% and adds a premium of up to 3% in bonds for those who have accepted the offer. The stock will pay interest every six months and 70% of the principal will be amortized between 2024 and 2027. The rest will be paid on maturity, the company said.

The IRSA recently made an investment of 20 million dollarss renew the Alto Avellaneda and add different possibilities for practicing sports in the spaces that Garbarino and Falabella occupied before the pandemic.

AQ