Beccar Varela

Beccar Varela, a leading law firm in Argentina, is pleased to announce that it has advised McDonald’s Latin America on entering into a new Master Franchise Agreement (MFA) for a period of 20 years with Arcos Dorados Holdings Inc. the world’s largest independent McDonald’s franchisee. The MFA was entered into on December 30, 2024, which became effective on January 1, 2025, and replaced the previous MFA. The new MFA also includes a renewal option, at McDonald’s discretion, for a new, 20-year MFA, beginning January 1, 2045. Beccar Varela, with its in-depth expertise, played a key role in supporting McDonald’s throughout this significant milestone. Arcos Dorados announced it expects to open approximately 90 to 100 restaurants in 2025. Counsels to McDonald’s Latin America LLC: Beccar Varela: Partner Ricardo Castañeda and senior associate Inés Cappelletti. Cleary Gottlieb: Partners Nallini Puri and Chantal Kordula In-house Counsel: Patrícia Borges, Director Global Business Counsel – Regional Counsel Latin America. Counsels to Arcos Dorados Holdings: Davis Polk: Partners Maurice Blanco and Frank Azzopardi In-house Counsel: General Counsel Juan David Bastida. Founded in 1897, Beccar Varela is a leading law firm in Argentina. It advises national and international companies from various industries in all areas of corporate law. Its team consists of over 160 lawyers specializing in different areas of law, many of whom have studied and worked in major cities around the world. Beccar Varela is the reference firm in Argentina for clients committed to ESG (Environmental, Social, and Governance) and corporate sustainability; it was the first full-service firm in the country to join the United Nations Global Compact and to publish a Sustainability Report.  

Buenos Aires, December 27, 2024 — On December 4, 2024, Banco de Galicia y Buenos Aires S.A.U. (“Banco Galicia”) issued (i) Class XVIII simple, non-convertible, unsecured notes, denominated, subscribed, and payable in Argentine Pesos (the “Class XVIII Notes”); and (ii) Class XIX simple, non-convertible, unsecured notes, denominated, subscribed, and payable in U.S. Dollars in Argentina (the “Class XIX Notes”). The issuance was carried out under the Frequent Issuer Regime of the CNV, as part of the Global Notes Program for up to US$1,000,000,000 (or its equivalent in other currencies, units of measure, and/or value). The Class XVIII Notes were issued for a nominal value of AR$23,496,247,000 and will mature on April 30, 2025. These Notes accrue interest at an effective monthly rate of 3%, with both interest and principal payable in a single installment on the maturity date, April 30, 2025. The Class XIX Notes were issued for a nominal value of US$97,749,482 and will mature on June 4, 2025. These Notes accrue interest at a fixed nominal annual rate of 4.25%, payable quarterly. The first interest payment date is March 4, 2025, and the second is June 4, 2025. The principal will be repaid in a single installment on the maturity date, June 4, 2025. The Notes were locally rated “A1+(arg)” by FIX SCR S.A. on November 25, 2024, and have been authorized for listing and trading on Mercado Abierto Electrónico S.A. and Bolsas y Mercados Argentinos S.A. Banco de Galicia y Buenos Aires S.A.U., as the issuer, also acted as organizer and placement agent, while Galicia Securities S.A.U. and Inviu S.A.U. acted as placement agents. All parties were advised by Beccar Varela’s team led by Luciana Denegri, with the participation of María Victoria Pavani, María Carolina Pilchik, Martina Puntillo, and Carlos Nicolás Saúl Lucero.·

Buenos Aires, 27 de diciembre de 2024 — El 4 de diciembre de 2024, Banco de Galicia y Buenos Aires S.A.U. (“Banco Galicia”) emitió (i) las obligaciones negociables clase XVIII, simples, no convertibles en acciones, no garantizadas, denominadas, a ser integradas y pagaderas en Pesos (las “Obligaciones Negociables Clase XVIII”); y (ii) las obligaciones negociables clase XIX, simples, no convertibles en acciones, no garantizadas, denominadas, a ser integradas y pagaderas en dólares estadounidenses en la República Argentina (las “Obligaciones Negociables Clase XIX”). La emisión fue realizada bajo el Régimen de Emisor Frecuente de la CNV, en el marco del Prospecto de Emisión de Obligaciones Negociables en tramos por hasta un monto máximo de emisión de US$ 1.000.000.000 (dólares estadounidenses mil millones) (o su equivalente en otras monedas, unidades de medida y/o unidades de valor). Las Obligaciones Negociables Clase XVIII fueron emitidas por un valor nominal de $23.496.247.000, cuyo vencimiento operará el 30 de abril de 2025. Devengan intereses a una tasa de interés del 3% efectiva mensual, y tanto los intereses como el capital de las Obligaciones Negociables Clase XVIII se abonarán en un único pago en la fecha de vencimiento de las Obligaciones Negociables Clase XVIII, es decir, el 30 de abril de 2025. Las Obligaciones Negociables Clase XIX fueron emitidas por un valor nominal de US$97.749.482, cuyo vencimiento operará el 4 de junio de 2025. Devengan intereses a una tasa de interés del 4,25 % nominal anual, los cuales se pagarán trimestralmente. La primera fecha de pago será el 4 de marzo de 2025 y la segunda el 4 de junio de 2025. El capital será amortizado en un único pago en la fecha de vencimiento de las Obligaciones Negociables Clase XIX, es decir, el 4 de junio de 2025. Asimismo, las Obligaciones Negociables han sido calificadas localmente como “A1+(arg)” por FIX SCR S.A. el 25 de noviembre de 2024, y fueron autorizadas para su listado y negociación en el Mercado Abierto Electrónico S.A. y en Bolsas y Mercados Argentinos S.A. Banco de Galicia y Buenos Aires S.A.U., en su calidad de emisor, actuó también como organizador y colocador, mientras que Galicia Securities S.A.U. e Inviu S.A.U. desempeñaron el rol de colocadores. Todas las partes fueron asesoradas por el equipo de Beccar Varela liderado por Luciana Denegri, con la participación de María Victoria Pavani, María Carolina Pilchik, Martina Puntillo y Carlos Nicolás Saúl Lucero.

Beccar Varela advised Lake Resources on the closing of the transaction for the sale of three lithium brine assets to Austroid Corporation for USD 9 million. The transaction, previously announced, provides Lake Resources with additional liquidity. The funds will be used to support the company’s financial stability, enabling it to maintain its strategic focus and advance its flagship project, the Kachi Project. "With the transaction funds now received, along with additional capital-raising capacity available to the company, Lake Resources is well-positioned with strong financial liquidity until 2026," said CEO David Dickson. "With environmental approvals for the Kachi Project underway and the site engineering study progressing, we remain focused on the strategic partnership process for Kachi." The assets included in the transaction were lithium brine concessions and related assets located in Jujuy Province, Argentina: Paso de Jama, Olaroz, and Cauchari. Lake Resources continues to market its hard rock Ancasti assets in Catamarca Province, Argentina. The Beccar Varela professionals who advised Lake Resources were Alejandro Poletto, Santiago Montezanti, Enrique Lopez Rivarola, Juan Pablo Perrino, Cruza Uranga, and Trinidad Artagaveytia. Lake Resources' in-house counsel is Barbara Cozzi. The Berreta Godoy professionals who advised Austroid Corporation were Juan Sonada, Mariela Sas, Federico Delhom, and Paula Pittaro. Founded in 1897, Beccar Varela is a leading Argentine law firm. It advises national and international companies from diverse industries across all areas of corporate law. Its team comprises more than 160 specialized attorneys, many of whom have studied and worked in major cities around the globe. Beccar Varela is Argentina’s go-to firm for clients committed to ESG and corporate sustainability. It was the first full-service firm in the country to join the United Nations Global Compact and to present a Sustainability Report.  

Beccar Varela advised FCA Compañía Financiera S.A. on the issuance of Class XX Notes in two series: Class XX Series I Notes (the “Series I Notes”) and Class XX Series II Notes (the “Series II Notes” and, together with the Series I Notes, the “Notes” or the “Class XX Notes”), issued under its global short, medium, and/or long-term notes program for a nominal value of US$100,000,000 (or its equivalent in other currencies, monetary units, or units of measure or value). The Series I Notes, denominated in Pesos, were issued on November 29, 2024, for a nominal value of UVAs 6,540,000, equivalent to AR$8,233,140,600. The maturity date is May 29, 2027, with an annual nominal fixed interest rate of 8.84%. The Series II Notes, also denominated in Pesos, were issued on the same date for a nominal value of AR$7,500,000,000. The maturity date is May 29, 2027, with an annual nominal fixed interest rate of 33.60%. The Notes were locally rated “AA(arg)” by FIX SCR S.A. (a risk rating agency) in a report issued on November 27, 2024. The Notes have been admitted for listing on Bolsas y Mercados Argentinos S.A. and authorized for trading on Mercado Abierto Electrónico S.A. FCA Compañía Financiera S.A. acted as the issuer, while Banco BBVA Argentina S.A. and Banco de Galicia y Buenos Aires S.A. acted as organizers and placement agents. Additionally, Banco Comafi S.A., Banco Patagonia S.A., and Banco Santander Argentina S.A. participated as placement agents. All parties were advised by Beccar Varela. Team led by partner Luciana Denegri, supported by María Victoria Pavani, Julián Alejandro Ojeda, Martina Puntillo, and Carlos Nicolás Saúl Lucero.·  

 On November 21, Beccar Varela promoted attorneys Enrique López Rivarola and Fernando Kreser to partners in recognition of their talent and significant contribution to the firm in the areas of tax law and dispute resolution, respectively. Enrique López Rivarola joined the firm in 2008. He focuses on tax law, both in tax advice and planning for domestic and international clients, as well as in complex tax litigation. He obtained his law degree from the Universidad de Buenos Aires (2010, graduated with honors) and completed a Specialization in Tax Law at the Universidad Austral (2014). Fernando Kreser joined the firm in 2019. He focuses on dispute resolution, including both domestic and international arbitration as well as civil and commercial litigation. He represents local and foreign clients in complex litigation cases involving contractual disputes, corporate conflicts, damage claims, and debt restructuring, among others. He obtained his law degree from the Universidad Católica Argentina (2011) and his Master’s in Business Law from the Universidad Austral (2020). He is also the head professor of Business Law in the Master of Business Administration at the Universidad del Salvador. Regarding these appointments, Maximiliano D’Auro, managing partner of Beccar Varela, stated: “These promotions are a well-deserved recognition to Enrique and Fernando, their professional careers, personal qualities, and commitment to the standard of excellence that defines our firm. Both exemplify the talent we seek to foster at Beccar Varela and are proud to support”. Enrique López Rivarola remarked: "I am truly honored to have been named a partner at the firm that has trained me since I joined 16 years ago. It is an exciting challenge that I am eager to take on, and I hope to continue contributing to the growth of the firm and its tax department”. Meanwhile, Fernando Kreser commented: “I am humbled to be named a partner at Beccar Varela. I reaffirm my commitment to delivering exceptional legal services for our clients and collaborating to the firm's continued growth”. These appointments strengthen Beccar Varela’s team in two key areas, reaffirming the firm’s commitment to providing comprehensive and excellent legal counsel.  

Beccar Varela advised EPAM Systems Inc., a digital transformation services and product engineering company, on the acquisition of the global advanced technology consultancy NEORIS. The closing of the deal was announced on October 31.   EPAM completed the purchase of NEORIS from funds managed by Advent International, one of the largest global private equity investors, and Cemex, a global construction materials company. Since EPAM is a leading global provider of digital engineering, cloud and AI-enabled transformation services, the acquisition will broaden EPAM’s delivery capabilities in Latin America and Europe and enhance value for customers in key industries. NEORIS is a Miami-headquartered global advanced technology consultancy with more than 4,800 professionals across major talent hubs in Latin America, Spain, and the U.S. Beccar Varela advised EPAM in Argentina, handling due diligence and providing legal assistance in drafting the transaction documents. The law firm Orrick coordinated the operation across all involved jurisdictions. Argentine counsel to EPAM Beccar Varela: team led by partner María Shakespear, along with senior associate Luciana Liefeldt and associate Tomás Burllaile and further supported by partners Florencia Rosati, María Eduarda Noceti, and Santiago Montezanti; senior associates Mariana Lamarca Vidal, Gonzalo Ochoa, Francisco Grosso, Alejandra Bouzigues, María Luján Callaci, and María de los Ángeles Olano; and associates Tomás Caputo, Franco Montiel, and Juan Ignacio Pazos.·