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Elsztain launched a bond in which you can invest from US$100 and will allocate it to IRSA real estate projects - Infobae
Source:
www.lanacion.com.ar
October 21, 2024
IRSA has launched a new bond for small savers that will be put out to tender on Monday; the money raised will be invested in the housing projects that IRSA is underway.
Eduardo Elsztain's company launched a new bond for small saversKostiantyn Li / Unsplash
The developer IRSA launched a new bond for small investors in which a minimum amount of only US$100 can be invested. It is a Negotiable Obligation for US$40 million that the company, owner of the main shopping centers in Argentina , will tender this Monday.
The bond rated AA+ (arg) -considered to be of high credit quality- consists of an issue divided into two tranches: one with a three-year maturity and the other with a five-year maturity. Both are denominated in dollars and the three-year tranche will be paid in MEP dollars; in the case of the five-year tranche, it will be paid in MEP dollars or in kind (class XV).
The total repayment of the capital will be made at maturity, although the interest payment will be semi-annual. “If you subscribe on October 21, on April 21 you will already have the interest deposit accumulated during that time,” explains Sergio Dattilo, Institutional Relations Manager at IRSA, and details that the interest rate will be put to tender on Monday. “Last year we launched a bond and we had an overdraft,” Dattilo highlights, alluding to the fact that demand exceeded supply.
Eduardo Elsztain is an Argentine businessman, president of the real estate companies IRSA and IRSA Propiedades.Telam News Agency
“The idea is to offer an alternative for small investors who have their savings in dollars deposited in their current accounts or in safe deposit boxes ,” says Matías Gaivironski, CFO of IRSA.
The option is particularly interesting, since, in a context in which the procedure for adhering to money laundering , contemplated in Law 27,743, was regulated - which, in a few words, implies that people who have money under the mattress will be able to launder that capital and buy different assets - many wonder how to obtain returns on those funds, so as not to leave them stagnant in the accounts.
“The proceeds from this issue will be used to partially finance the ambitious plan for housing projects that the company is undertaking ,” adds Gaivironski. Indeed, the proceeds from this investment will be used for the Ramblas del Plata (formerly Ciudad Deportiva) projects, the building that is the former Mercado del Plata , the towers in the Polo DOT, the Alto Rosario area, and a shopping mall and housing in La Plata.
The iconic Mercado del Plata building, located a few meters from the Obelisk, will be converted into 720 apartments PATRICIO PIDAL/AFV
In the area surrounding the DOT Baires shopping mall, Elsztain's company will invest US$120 million to build 80,000 square meters to be distributed between office projects, retail stores and residential buildings. The project also includes adding 10,000 m² of corporate space, shops and 150 housing units to the Zeta building - largely rented by none other than Mercado Libre - which until now has 35,000 m², which would add up to a total of 1,200 apartments.
The former Boca Sports City was acquired in the 1990s for US$51 million by IRSA for the construction of a mega real estate project. The project, named Ramblas del Plata, includes the construction of 6,000 housing units and will also include offices, commercial premises, schools, a hotel and a coastal pedestrian promenade on a total land area of 72 hectares.
The project of the former Boca Sports City, baptized with the name of Ramblas del Plata Gentleness
As for investments outside the capital, the details of the Rosario project are not yet known, but IRSA's debut in the La Plata market is known. With an investment of US$130 million, the company launched a mixed-use project that includes a shopping mall, residential towers, offices and a hotel.
www.buysellba.com
Source:
Elsztain lanzó un bono en el que se puede invertir desde US$100 y lo destinará a proyectos inmobiliarios de IRSA
La empresa IRSA lanzó un nuevo bono para pequeños ahorristas que se licitará el lunes; el dinero recaudado se invertirá en las obras de viviendas que IRSA tiene en marcha
www.lanacion.com.ar
October 21, 2024
IRSA has launched a new bond for small savers that will be put out to tender on Monday; the money raised will be invested in the housing projects that IRSA is underway.
Eduardo Elsztain's company launched a new bond for small saversKostiantyn Li / Unsplash
The developer IRSA launched a new bond for small investors in which a minimum amount of only US$100 can be invested. It is a Negotiable Obligation for US$40 million that the company, owner of the main shopping centers in Argentina , will tender this Monday.
The bond rated AA+ (arg) -considered to be of high credit quality- consists of an issue divided into two tranches: one with a three-year maturity and the other with a five-year maturity. Both are denominated in dollars and the three-year tranche will be paid in MEP dollars; in the case of the five-year tranche, it will be paid in MEP dollars or in kind (class XV).
The total repayment of the capital will be made at maturity, although the interest payment will be semi-annual. “If you subscribe on October 21, on April 21 you will already have the interest deposit accumulated during that time,” explains Sergio Dattilo, Institutional Relations Manager at IRSA, and details that the interest rate will be put to tender on Monday. “Last year we launched a bond and we had an overdraft,” Dattilo highlights, alluding to the fact that demand exceeded supply.
Eduardo Elsztain is an Argentine businessman, president of the real estate companies IRSA and IRSA Propiedades.Telam News Agency
“The idea is to offer an alternative for small investors who have their savings in dollars deposited in their current accounts or in safe deposit boxes ,” says Matías Gaivironski, CFO of IRSA.
The option is particularly interesting, since, in a context in which the procedure for adhering to money laundering , contemplated in Law 27,743, was regulated - which, in a few words, implies that people who have money under the mattress will be able to launder that capital and buy different assets - many wonder how to obtain returns on those funds, so as not to leave them stagnant in the accounts.
“The proceeds from this issue will be used to partially finance the ambitious plan for housing projects that the company is undertaking ,” adds Gaivironski. Indeed, the proceeds from this investment will be used for the Ramblas del Plata (formerly Ciudad Deportiva) projects, the building that is the former Mercado del Plata , the towers in the Polo DOT, the Alto Rosario area, and a shopping mall and housing in La Plata.
What real estate projects will the money be allocated to?
The iconic Mercado del Plata building, which stands on 9 de Julio Avenue, will be converted into a residential building by the IRSA group . The trust partners include businessman Alfredo Coto - creator of the supermarket chain that bears his name - and it is one of the projects to which the bonds will be allocated. The nine-story building with three basement floors has a total of 44,000 m², was acquired in April 2016 for US$68,114,000 and will be converted into 720 housing units.
The iconic Mercado del Plata building, located a few meters from the Obelisk, will be converted into 720 apartments PATRICIO PIDAL/AFV
In the area surrounding the DOT Baires shopping mall, Elsztain's company will invest US$120 million to build 80,000 square meters to be distributed between office projects, retail stores and residential buildings. The project also includes adding 10,000 m² of corporate space, shops and 150 housing units to the Zeta building - largely rented by none other than Mercado Libre - which until now has 35,000 m², which would add up to a total of 1,200 apartments.
The former Boca Sports City was acquired in the 1990s for US$51 million by IRSA for the construction of a mega real estate project. The project, named Ramblas del Plata, includes the construction of 6,000 housing units and will also include offices, commercial premises, schools, a hotel and a coastal pedestrian promenade on a total land area of 72 hectares.
The project of the former Boca Sports City, baptized with the name of Ramblas del Plata Gentleness
As for investments outside the capital, the details of the Rosario project are not yet known, but IRSA's debut in the La Plata market is known. With an investment of US$130 million, the company launched a mixed-use project that includes a shopping mall, residential towers, offices and a hotel.
www.buysellba.com
