The Dietrich Group (GD), owned by the family of the Minister of Transportation, Guillermo Dietrich, placed Negotiable Obligations for $ 130 million to investors of institutional funds and local private banks.
The destination of the funds of this ON class II will be the refinancing of liabilities and the investment in working capital. It is the second issue of this company in the local market.
The underwriters were Galicia Bank, Balanz Capital and AR Partners, while the legal advice was from the Tanoira Cassagne study.
The Badlar rate was variable for private banks plus a cutoff margin whose bidding result was 500 basis points. In addition, a “minimum rate” was established during two interest accrual periods of 27.5%. The expiration date will be October 24, 2019, as well as the amortization of the capital.
According to a statement from the Group, GD “repairs 150 vehicles every day through its official aftermarket, sells 10,000 cars 0km every year, shieldes 100 cars a year and has a rental fleet of 1,200 vehicles with branches in more than 15 provinces.”