Banco Macro S.A. Updates on Its Tender Offer for Subordinated Notes

On January 27, 2026, Banco Macro S.A., often referred to simply as Macro, announced the preliminary outcomes of its cash tender offer for all outstanding 6.750% Subordinated Resettable Notes due in 2026. By the end of the Early Tender Date on January 26, 2026, Macro confirmed that it had received valid tenders amounting to a significant $275,345,000 in such notes.

Key Information About the Tender Offer

Banco Macro is focused on restructuring its financial instruments and has initiated this tender offer as part of these efforts. The offer was laid out in detail in the “Offer to Purchase,” which was made public on January 12, 2026, detailing the terms and conditions necessary for participation.

As per the announced results, bondholders who validly tendered their notes by the stated Early Tender Date will be compensated with an Early Tender Consideration of $1,010 for each $1,000 of principal amount of notes accepted for purchase. Furthermore, these holders will also receive all accrued and unpaid interest leading up to the Early Settlement Date, which is set for January 28, 2026.

Extension of Payment Terms

In a move likely aimed at increasing participation, Banco Macro chose to extend the Early Tender Consideration to noteholders who submit their tenders after the Early Tender Date but before the Expiration Date. This means that these holders will also be eligible for the same $1,010 payment coupled with accrued interest, rather than receiving a potentially lower Late Tender Consideration. This strategic extension appears to be a bid to enhance acceptance rates ahead of the final bidding.

Requirements and Conditions

It’s essential to note that the completion of this tender offer is contingent upon meeting certain conditions, including a financing condition. Furthermore, Macro reserves the right to amend or terminate the offer at its discretion, complying with the applicable legal framework.

Withdrawal of submitted tenders was no longer permitted following the Withdrawal Deadline of January 26, 2026, at 5:00 p.m. EST. This stipulation indicates that any submissions made prior to this date cannot be revoked, reflecting strict adherence to the procedural guidelines outlined in the Offer to Purchase.

Notable Advisors Involved

Banco Macro has appointed several esteemed firms to assist in generating interest in this transaction. Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Latin Securities S.A. Agente de Valores are the designated dealer managers, while Morrow Sodali International LLC is acting as the information and tender agent. Other local entities, such as Macro Securities S.A.U., Balanz Capital Valores S.A.U., and Latin Securities S.A., are also involved as information agents in Argentina to facilitate communication and execution of the offer.

Importance of Informed Participation

Holders of these subordinated notes are strongly encouraged to review the Offer to Purchase in detail, due to its containing essential information that could greatly influence their decision on whether to tender their notes. The document outlines the complete framework for participation and includes relevant contact details for seeking further clarity on the offer.

As always, all prospective participants should weigh the potential risks and benefits before making any decisive action concerning their holdings. The regards about the offer's compliance with local and international regulations as well as any other implications should be thoroughly understood before any decisions are made.

This tender offer represents a significant opportunity for shareholders of Banco Macro as it continues to navigate its financial strategy within the capital markets. As market conditions evolve, following Macro's defined timelines and requirements will be crucial for stakeholders.