Zang, Bergel & Viñes Abogados advised Banco Hipotecario S.A. in the issuance of the Series XV and the Series XVI, issued under the Bank´s Global Note Program for up to the sum of US$ 500,000,000 (or its equivalent in pesos). On January 31st, 2014, the Bank successfully completed the placement and issuance of the Series XV and the Series XVI Notes for a global amount of AR$ 102,023,000. Series XV has a maturity of 360 days from its issue date, with a face value of AR$ 12,340,000, at an issue price of 100% of the face value; issued at fixed rate of 27,00%, payable on a quarterly basis. Series XVI has a maturity of 24 months from its issue date, and was issued at a nominal value of AR$ 89,683,000 at an issue price of 100% of the face value, issued at a Private Badlar Rate (Tasa Badlar Privada) plus 425 bps per annum, payable on a quarterly basis. The offering was directed to the domestic market, and therefore the notes will be listed in the Buenos Aires Stock Exchange and admitted for trading on the Mercado Abierto Electrónico S.A., the Argentine over-the-counter market. BACS Banco de Crédito y Securitización, Banco Hipotecario, Banco de Galicia y Buenos Aires, and Banco de Servicios y Transacciones acted as underwriters for the placement. Zang, Bergel & Viñes Abogados acted as deal counsel through partners Carolina Zang and Carolina Arroyo, and associates Pablo Nisim Schreiber and Federico Soldani.