Minas Argentinas, a subsidiary of Aisa Group, announced its intention to issue negotiable obligations (ON) on February 12 as a means of financing part of the construction of a photovoltaic park in San Luis Province. This initiative marks its first public debt issuance following the approval of its public company status by the National Securities Commission (CNV) in July. The obligations will be denominated in US dollars with a fixed annual nominal interest rate set to be auctioned, contributing US$ 12 million initially but may be expanded to US$ 22 million in future issuances.

The funds raised will be targeted for the construction of the Calicanto Solar Park, which is being developed by Calicanto Solar, the subsidiary of Minas Argentinas. The move to seek financing through issuances reflects Minas Argentinas' strategic push to enhance its energy capabilities through sustainable sources, as the demand for renewable energy continues to grow in Argentina and globally. This not only demonstrates the company's commitment to investments in renewable energy but also its adaptability in securing funds in an evolving market environment.

Additionally, the timing of this bond issuance comes on the heels of positive assessments from Fix SCR, an affiliate of Fitch Ratings, which has recognized Minas Argentinas’ public listing and its potential in the renewable sector. Such market support may bolster investor confidence, making the issuance a significant step towards positioning the company strongly in the renewable energy landscape in Argentina, indicating a growing trend of mining companies branching out into sustainable practices as part of their growth strategy.