Cresud Sociedad Anónima Comercial Inmobiliaria Financiera y Agropecuaria : Central Bank of the Argentine Republic Communication
September 18, 2020 at 10:05 am EDT
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The Company releases a material fact to inform that according to the Communication 'A' 7106, it is analyzing the impact of said provision.
The company informs that according to the Communication 'A' 7106 (http://www.bcra.gov.ar/Pdfs/comytexord/A7106.pdf), issued by the Central Bank of the Argentine Republic which establishes, among other issues, that those who register scheduled capital maturities between 10.15.2020 and 03.31.2021 for issuance of publicly registered debt securities in the country denominated in foreign currency from private sector clients or from the entities themselves, must submit to the Central Bank a detail of a refinancing plan based on the following criteria: (a) that the net amount for which the exchange market will be accessed in the original terms will not exceed 40% of the amount of capital maturing in the period indicated above, and (b) that the rest of the capital should be, as a minimum, refinanced with a new external debt with an average life of 2 years; the Company is analyzing the impact of said provision in order to comply in due time and form with the requirements of the Central Bank, if applicable.
Likewise, as has been duly reported, on November 14 of this year, the Class XXIV Notes expires for a nominal value of USD 73,605,400 as well as other banking debt.
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Cresud S.A.C.I.F. y A. published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 14:04:05 UTC
Cresud SACIF y A is an Argentina-based company engaged mainly in telecommunications sector. Through its subsidiaries, it operates two segments: Agricultural Business and Urban Properties and Investment Business, which is divided into: Operations Center Argentina and Operations Center Israel. Agricultural Business focuses on acquiring, developing and exploiting agricultural properties. It is involved in farming activities, cattle raising, leasing land to third parties and perform agency and agro-industrial services, including a meat packing plant. Operations Center Argentina is engaged in the development, acquisition and operation of shopping malls, offices and hotels, among others, in Argentina, and owns selective investments outside Argentina. Operations Center Israel includes real estate activities in Israel and abroad, supermarket chain management and telecommunications services, both locally, as well as is engaged in the insurance, pension and provident funds, among others.