Zang, Bergel & Vines Abogados advised real estate developer IRSA Inversiones y Representaciones S.A. in the issuance of Class 5 and Class 6 Notes, issued under the company´s Global Note Program for up to the sum of US$ 300,000,000 (or its equivalent in other currencies). On February 21st, 2014, the company successfully completed the issuance of the notes for a total amount of AR$ 220,188,222. Class 5 has a maturity of 18 months from its issue date, with a face value of AR$ 209,397,900, at an issue price of 100% of the nominal amount. Class 5 was issued at a Private Badlar Rate (Tasa Badlar Privada) plus 3.95% per annum, payable on a quarterly basis. Class 6 has a maturity of 36 months from its issue date, and was issued at a nominal value of AR$ 10,790,322, at an issue price of 100% of the nominal amount. Class 6 was issued at a Private Badlar Rate (Tasa Badlar Privada) plus 4.50% per annum, payable on a quarterly basis The book represented a 2,6X oversubscription in relation to the announced offer. Banco Hipotecario S.A., BACS Banco de Crédito y Securitización S.A., Banco de Galicia y de Buenos Aires S.A., Banco Santander Río, INTL CIBSA Sociedad de Bolsa S.A. and Puente Hnos. MAE S.A. acted as underwriters. Zang, Bergel & Viñes Abogados acted as legal counsel to IRSA through partner Carolina Zang, and associates Pablo Schreiber and Federico Soldani. Pérez Alati, Grondona, Benites, Arntsen & Martínez de Hoz acted as legal advisor to the underwriters through partner Diego Serrano Redonnet, and associates Federico Wilensky and Axel Hatrick.