BUENOS AIRES, Argentina--(BUSINESS WIRE)--
Grupo Supervielle S.A. (NYSE: SUPV); (BASE: SUPV), (“Supervielle”
or the “Company”) a universal financial services group headquartered in
Argentina with a nationwide presence, announces that its subsidiary,
Banco Supervielle, has successfully completed its inaugural relevant
international issuance of a 3.5YR tenor global bond denominated in
Argentine Pesos equivalent to US$ 300 million. The Notes will accrue
interest at Badlar + 450 bps with a minimum coupon rate of 18%. The book
was oversubscribed.
The decision to raise funds in the international and Argentine market
follows the green shoots seen in the economy during the last quarter of
2016 and the positive outlook we perceive in our day to day business for
2017. The proceeds of this offering will be applied to loan origination
with longer tenures between individuals and SMEs supporting our
commitment to continue being a relevant player in the Argentine
financial system.
This transaction confirms the presence of Grupo Supervielle in the
international and local capital markets following its successful IPO
carried out only eight months ago. We appreciate the support the
international and local financial communities give to our company which
reinforces our firm engagement with our growth strategy.
About Grupo Supervielle S.A. (NYSE: SUPV); (BCBA: SUPV)
Grupo Supervielle S.A. (“Supervielle”) is a universal financial services
group located in Argentina that owns the fifth largest private
domestically-owned bank in terms of assets, Banco Supervielle S.A.
Headquartered in Buenos Aires, Supervielle offers retail and corporate
banking, treasury, consumer finance, insurance, asset management and
other products and services nationwide to a broad customer base
including: individuals, small and medium-sized enterprises and medium to
large-sized companies. With origins dating back to 1887, Supervielle
operates through a multi-brand and multi-channel platform with a
strategic national footprint. As of September 30, 2016, Supervielle had
total assets of AR$44.4 billion under Argentine Banking GAAP, 325 access
points and over 2 million customers. Grupo Supervielle had 363,777,615
shares outstanding and a free float of 40.3% as of September 30, 2016.
For information about Grupo Supervielle, visit www.gruposupervielle.com.
Safe Harbor Statement
This press release contains certain forward-looking statements that
reflect the current views and/or expectations of Grupo Supervielle and
its management with respect to its performance, business and future
events. We use words such as “believe,” “anticipate,” “plan,” “expect,”
“intend,” “target,” “estimate,” “project,” “predict,” “forecast,”
“guideline,” “seek,” “future,” “should” and other similar expressions to
identify forward-looking statements, but they are not the only way we
identify such statements. Such statements are subject to a number of
risks, uncertainties and assumptions. We caution you that a number of
important factors could cause actual results to differ materially from
the plans, objectives, expectations, estimates and intentions expressed
in this release. Actual results, performance or events may differ
materially from those in such statements due to, without limitation, (i)
changes in general economic, financial, business, political, legal,
social or other conditions in Argentina or elsewhere in Latin America or
changes in either developed or emerging markets, (ii) changes in
regional, national and international business and economic conditions,
including inflation, (iii) changes in interest rates and the cost of
deposits, which may, among other things, affect margins, (iv)
unanticipated increases in financing or other costs or the inability to
obtain additional debt or equity financing on attractive terms, which
may limit our ability to fund existing operations and to finance new
activities, (v) changes in government regulation, including tax and
banking regulations, (vi) changes in the policies of Argentine
authorities, (vii) adverse legal or regulatory disputes or proceedings,
(viii) competition in banking and financial services, (ix) changes in
the financial condition, creditworthiness or solvency of the customers,
debtors or counterparties of Grupo Supervielle, (x) increase in the
allowances for loan losses, (xi) technological changes or an inability
to implement new technologies, (xii) changes in consumer spending and
saving habits, (xiii) the ability to implement our business strategy and
(xiv) fluctuations in the exchange rate of the Peso. The matters
discussed herein may also be affected by risks and uncertainties
described from time to time in Grupo Supervielle’s filings with the U.S.
Securities and Exchange Commission (SEC) and Comision Nacional de
Valores (CNV). Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as the date of this
document. Grupo Supervielle is under no obligation and expressly
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170202006386/en/
Source: Grupo Supervielle S.A.