Marval O'Farrell Mairal and Badeni, Cantilo, Carricart & Bilbao recently participated in the granting of a syndicated loan for a principal amount of AR$ 98,000,000 in favor of Mercado Agroganadero S.A. (“MAG”) and Mercado de Liniers S.A. (“MLSA” and together with MAG, the “Borrowers”). 

On November 24, 2021 MAG and MLSA conveyed with Banco de la Ciudad de Buenos Aires (“BCBA”) and Banco de la Provincia de Buenos Aires (“BAPRO” and together with BCBA, the “Banks”), a syndicated loan for a principal amount of AR$ 98,000,000 which was disbursed on December 1, 2021 (the “Loan”). 

The proceeds of the Loan will be used by MAG exclusively for the completion and start-up of the market and access roads, which are part of the project for the construction of a cattle market in Cañuelas, Province of Buenos Aires, where the activities of the current Liniers Market, located in the City of Buenos Aires, will be concentrated. 

The Loan is secured by (i) the assignment of all the cash flows corresponding to the Borrowers from their businesses consisting of the operation of the cattle market and the related services rendered by them; (ii) a mortgage on the property located in the City of Cañuelas, Province of Buenos Aires, where the Mercado Agroganadero and the new real estate projects annexed thereto will be located; and (iii) a mortgage on the San Vicente property. 

The current Mercado de Hacienda de Liniers, located in the City of Buenos Aires, will move its activity to the municipality of Cañuelas, and will be located on a 110-hectare site on Provincial Route N6 km 88. The Market will be the most important center for agricultural transactions in the country, and is unique in the world. 

This transaction supplements the first syndicated loan granted by the Banks to the Borrowers on December 11, 2019, for an amount equivalent in Pesos of 7,550,000 UVAs, for the construction of the Market, in which Marval O'Farrell Mairal and Badeni, Cantilo, Carricart & Bilbao also participated. 

Advisors to the Banks 

Marval O'Farrell Mairal served as legal advisor to the Banks, with a team led by partner Roberto E. Silva, assisted by associates Pablo H. Lapiduz and Cecilia V. Ramos. 

Advisors to the Borrowers 

Badeni, Cantilo, Carricart & Bilbao acted as legal advisor to the Borrowers through its partner Mariano Carricart.