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IRSA Inversiones y Representaciones Completes Debt Exchange Offer and Concurrent Offering of Senior Notes

03.31.25

Simpson Thacher represented IRSA Inversiones y Representaciones S.A. (“IRSA”) in connection with its offer to exchange any and all of its outstanding US$171,202,815 8.750% Notes due 2028 (the “Existing Notes”) for new 8.000% Senior Notes due 2035 (the “2035 Notes”) and cash consideration, conducted pursuant to applicable exemptions from the registration requirements under the Securities Act of 1933, as amended (the “Securities Act”). As of the early participation date of the exchange offer, 39.35% of the Existing Notes (the “Early Tendered Notes”) were tendered and accepted in the exchange offer and US$103,842,808 aggregate principal amount of 2035 Notes were issued in exchange for the Early Tendered Notes.

Simpson Thacher also represented IRSA in connection with its concurrent offering of approximately US$242,205,175 million aggregate principal amount of 2035 Notes, pursuant to exemptions from the registration requirements under the Securities Act, for a total aggregate principal amount of 2035 Notes of US$300,000,000. IRSA intends to use the proceeds of the offering for one or more of the purposes stipulated in Article 36 of the Argentine Negotiable Obligations Law, including the integration of working capital in Argentina and the repayment of short-term debt, among others.

IRSA is one of Argentina’s leading real estate companies. Global depositary shares representing its common shares are listed on the New York Stock Exchange (NYSE: IRS).

The Simpson Thacher team included Juan M. Naveira, Jon Vicuña and Jorge Granic (Capital Markets); and Michael E. Mann and Kris Liu (Tax).