The successful issuance of the negotiable obligation not only reaffirms River’s financial solidity, but also marks a milestone in Argentine football by promoting a key infrastructure project that will guarantee better opportunities for their young talents.
This Tuesday, February 25, the club entered the public offer market by issuing aA negotiable obligation (ON) guaranteeda financial instrument that allowed River to obtain financing at competitive rates.
The funds raised will be destined to the construction of The new River house on the Cantilo Formative Soccer sitea project framed within the most ambitious infrastructure investment plan in the history of the institution.
The placement of the ON was a resounding success for the club, led by Jorge Brito, exceeding expectations. Offers were received for more than 23,000 million pesos, well above the established range, which had a minimum of 6,000 million and a maximum of 12,000 million. In addition, the margin on the Tamar rate was 3.89%, lower than the initial forecast of 4.50%. In total, 4,374 orders were registered, consolidating an exceptional result for the initiative.
It is important to note that this is the first broadcast of this type made by a football club. This financing mechanism allows River to diversify its sources of resources, offering an alternative to traditional loans and expanding access to a broader base of investors.
Instrument details
Warranty
Negotiable obligations are backed by guarantee certificates. The organizing banks, plates and issuance of the broadcast are Banco Supervielle, Banco CMF, BBVA, Banco de Securitas and Banco Comafi. In addition, they participated in Latin Securities, invest online and Allaria.
Term and amortization scheme
The expiration of the ON is 24 months, with amortization in four semiannual payments from the issuance date.
Casa River
- A 5,000 -square -meter building will be built on the new Cantilo Formative Soccer site, which will have kinesiology rooms, gyms, changing rooms and an educational area linked to the Riverdar program.
- Casa River will accommodate approximately 80 children and young people between 11 and 18 years old, of which between 60% and 70% come from homes that are below the poverty threshold. Many of them are from other provinces and, through this initiative, they are given equal opportunities for their development.
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- All players resident at Casa River will receive an educational scholarship.
- In addition to providing an accessible home, Casa River will offer a safe and containment environment for young people.
- Residents will have social work coverage and the accompaniment of educational tutors 24 hours a day.
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Social benefits
Thanks to this project, the club can guarantee its athletes equitable access to opportunities and favor its integral development. In addition, quality, stability, and a focus on sports and academic growth will be promoted. Inclusion and diversity will also be encouraged, while working on addiction prevention and protection against harmful environments.
Source: Ambito
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