<SEC-DOCUMENT>0001654954-20-005813.txt : 20200520
<SEC-HEADER>0001654954-20-005813.hdr.sgml : 20200520
<ACCEPTANCE-DATETIME>20200520100934
ACCESSION NUMBER:		0001654954-20-005813
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200520
FILED AS OF DATE:		20200520
DATE AS OF CHANGE:		20200520

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IRSA INVESTMENTS & REPRESENTATIONS INC
		CENTRAL INDEX KEY:			0000933267
		STANDARD INDUSTRIAL CLASSIFICATION:	LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13542
		FILM NUMBER:		20895940

	BUSINESS ADDRESS:	
		STREET 1:		BOLIVAR 108
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1066AAD
		BUSINESS PHONE:		00541143237449

	MAIL ADDRESS:	
		STREET 1:		BOLIVAR 108
		CITY:			BUENOS AIRES
		STATE:			C1
		ZIP:			C1066AAD
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<DESCRIPTION>PRICE SUPPLEMENT
<TEXT>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 24px; font-family: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></font></font></div>
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<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Washington,
D.C.&#xA0;&#xA0;20549</font></font></font></div>
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&#xA0;</font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;<font style="font-weight: bold; font-size: 24px; font-family: Times New Roman">FORM
6-K</font></font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;</font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">&#xA0;REPORT
OF FOREIGN ISSUER</font></font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">PURSUANT
TO RULE 13a-16 OR 15b-16 OF</font></font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">THE
SECURITIES EXCHANGE ACT OF 1934</font></font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;</font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">For
the month of May, 2020</font></font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;</font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;<font style="font-weight: bold; font-size: 24px; font-family: Times New Roman">IRSA
Inversiones y Representaciones Sociedad
An&#xF3;nima</font></font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
(Exact name of Registrant as specified in its
charter)</font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;</font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 24px; font-family: Times New Roman">IRSA
Investments and Representations Inc.</font></font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
(Translation of registrant&#xB4;s name into
English)</font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;</font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Republic
of Argentina</font></font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
(Jurisdiction of incorporation or organization)</font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;</font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Bol&#xED;var
108</font></font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">(C1066AAB)</font></font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">Buenos
Aires, Argentina</font></font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font style="font-weight: bold">&#xA0;(</font>Address of principal
executive offices)</font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;</font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;Form 20-F&#xA0;&#x2327;<font id="TAB2" style="letter-spacing: 3pt; color: black">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font>Form
40-F&#xA0;&#xA0;&#x2610;</font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
<font id="TAB1" style="margin-left: 96px">&#xA0;</font>Indicate by
check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.</font></font></div>
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<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
&#xA0;</font></font></div>
<div style="text-align: center; line-height: 1; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal; background-color: #ffffff"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-style: normal; font-weight: normal; font-size: 13px; font-family: Times New Roman">
Yes&#xA0;&#x2610;<font id="TAB2" style="letter-spacing: 3pt; color: black">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font>No
x</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">IRSA
INVERSIONES Y REPRESENTACIONES SOCIEDAD
AN&#xD3;NIMA</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">(THE
&#x201C;COMPANY&#x201D;)</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; color: #000; letter-spacing: normal; white-space: normal"><font style="font-style: normal; font-weight: normal; font-size: medium; font-family: Times New Roman">
<font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">REPORT
ON FORM 6-K</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
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<div id="hdr" style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><br></font>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px; font-family: Times New Roman">Attached is the
English translation of the letter dated May 20, 2020 filed with the
<font style="font-style: italic">Comision Nacional de
Valores</font> and <font style="font-style: italic">Bolsas y
Mercados Argentinos</font>.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div id="pgbrk" style="margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%">
<div id="ftr" style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
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<div id="hdr" style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
</div>
<br></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;<br></font>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 15px"><font style="font-family: Times New Roman;"><font style="font-size: 13px">By
letter dated May 20, 2020 and in reference to the&#xA0;end of the
Public Auction Period of the Notes Series III, Class IV &amp; Class
V issued by the Company,&#xA0;&#xA0;we attach the following
financial information:</font></font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 15px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Notes Series
III<br></font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Amount Issued:</font> Ps. 353,991,881
(equivalent USD 5,219,964.33)<br></font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Issuance Price:</font> 100.0% Face
Value<br></font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Interest Rate:</font> Private Badlar +
6.00%<br></font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Issuance Date:</font> May 21, 2020</font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Maturity Date:</font> February 21,
2021</font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="font-weight: bold">Estimated Duration</font>: 0.64
years<br></font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Interest Installments:</font> Quarterly
payments starting August 21, 2020</font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Principal
Installment:</font>&#xA0; On November 21, 2020 (30% face value) and
February 21, 2020 (70% face value)<br></font></div>
</div>
</div>
</div>
</div>
<font>&#xA0; <font style="font-weight: bold">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px"><font style="font-weight: bold">&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; Notes
Series IV<br></font>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font><font style="font-weight: bold">Amount
Issued:</font> USD 51,352,149<br></font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font><font style="font-weight: bold">Issuance
Price:</font> 102.0% (YTM 5.03% n.a.)<br></font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font><font style="font-weight: bold">Interest
Rate:</font> 7.0% nominal annual<br></font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font><font style="font-weight: bold">Issuance
Date:</font> May 21, 2020</font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font><font style="font-weight: bold">Maturity
Date:</font> May 21, 2021</font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font><font style="font-family: Times New Roman;"><font style="font-weight: bold">Estimated Duration</font>: 0.97
years<br></font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font><font style="font-weight: bold">Interest
Installments:</font> Quarterly payments starting August 21,
2020</font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font><font style="font-weight: bold">Principal
Installment:</font>&#xA0; On May 21, 2021</font></div>
</div>
</div>
</div>
</div>
</div>
</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 15px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Notes Series V<br></font>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Amount
Issued:</font> USD 9,175,948<br></font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Issuance Price:</font> 103.0% (YTM 7.56%
n.a.)<br></font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Interest Rate:</font> 9.0% nominal
annual<br></font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Issuance Date:</font> May 21, 2020</font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Maturity Date:</font> May 21, 2022</font></div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-family: Times New Roman;"><font style="font-weight: bold">Estimated Duration</font>: 1.86
years<br></font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-size: 13px"><font style="font-weight: bold">Interest Installments:</font>&#xA0; Quarterly
payments starting August 21, 2020</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-family: Times New Roman; font-size: 13px;"><font style="font-weight: bold">Principal Installment:</font> On May 21,
2022<br></font></div>
</div>
</div>
</div>
</div>
</div>
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 24px"><font style="font-family: Times New Roman; font-size: 13px;">Funds will be used
to refinance short term debt.<br></font></div>
</div>
</div>
</div>
</div>
</div>
</font><font>&#xA0;&#xA0;&#xA0;
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
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<div id="hdr" style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px; width: 100%"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</div>
</div>
<br></font></div>
</div>
</div>
<div style="text-align: center; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">SIGNATURES</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Pursuant to the
requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized, in the city of
Buenos Aires, Argentina.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px;">
<table cellpadding="0" cellspacing="0" style="text-align: left; font-family: inherit; font-size: inherit;text-align: left; background-color: white; width: 100%;">
<tr>
<td style="width: 48%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td colspan="3" style="width: 3%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold; font-size: 13px; font-family: Times New Roman">&#xA0;IRSA
Inversiones y Representaciones Sociedad
An&#xF3;nima<br></font></font></div>
</td>
</tr><tr>
<td style="width: 48%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td colspan="3" style="width: 3%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr><tr>
<td style="width: 48%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 3%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;By:</font></div>
</td>
<td style="width: 42%; border-bottom: 2px solid black">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;/S/ Sa&#xFA;l
Zang</font></div>
</td>
<td style="width: 7%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr><tr>
<td style="width: 48%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 3%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 42%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Sa&#xFA;l
Zang</font></div>
</td>
<td style="width: 7%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr><tr>
<td style="width: 48%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 3%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 42%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Responsible for the
Relationship with the Markets</font></div>
</td>
<td style="width: 7%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">May 20,
2020</font></div>
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</DOCUMENT>
</SEC-DOCUMENT>
