Municipality of Cordoba’s Series XLIII Treasury Notes Issuance for AR$1,029,029,000
Legal counsel to the Municipality of Cordoba’s, as issuer, Banco de la Provincia de Córdoba S.A., as arranger and placement, and to AdCap Securities Argentina S.A., Banco de la Ciudad de Buenos Aires, Banco Hipotecario S.A., Banco de Servicios y Transacciones S.A., Puente Hnos S.A., SBS Trading S.A., Nación Bursátil S.A., y Banco de Galicia y Buenos Aires S.A.U., as placement agents, in the issuance of Municipality of Cordoba’s Series XLIII Treasury Notes (the “Treasury Notes Series XLIII”), under the Municipality of Cordoba’s Treasury Notes Issuance Programme. The transaction closed on December 17, 2021 and the payments due under the Treasury Notes Series XLIII are secured by certain rights of the Municipality to collect certain contribution charges over the commercial, industrial and services activity. The Treasury Notes Series XLIII were issued for AR$1,029,029,000 at an annual floating interest rate equivalent to Badlar plus 4.75%, due on September 13, 2022.
Legal Advice in the Issuance of Class III Notes of Albanesi Energía S.A. for US$24,103,642
Counsel to Banco de Servicios y Transacciones S.A and SBS Capital S.A. as arrangers, and to SBS Trading S.A., Banco de Servicios y Transacciones S.A, Facimex Valores S.A., Banco de la Provincia de Buenos Aires, AdCap Securities Argentina S.A., Macro Securities S.A., Nación Bursátil S.A., BACS Banco de Crédito y Securitización S.A., Banco Hipotecario S.A. and TPCG Valores S.A.U., as placement agents, in the issuance of Albanesi Energía S.A.’s 4.90% Class III Notes for US$24,103,642 due September 14, 2024.
SBS Capital S.A. and Banco de Servicios y Transacciones S.A. acted as arrangers, and SBS Capital S.A., Banco de Servicios y Transacciones S.A. Facimex Valores S.A., Banco de la Provincia de Buenos Aires, AdCap Securities Argentina S.A., Macro Securities S.A., Nación Bursátil S.A., BACS Banco de Crédito y Securitización S.A., Banco Hipotecario S.A. and TPCG Valores S.A.U., acted as placement agents of Class III Notes.
Legal Counsel in the Sale of Grupo Alicorp's Argentinean Subsidiaries
We advised Alicorp S.A.A, a company that is part of Grupo Romero and is listed in Lima's Stock Exchange, in the sale of its Argentinean subsidiaries dedicated to the fabrication and commercialization of mass consumer products (personal care/homecare/foods).
The transaction involved the sale of 100% of its participation in four subsidiaries along with its entire operation in the country, including its three sites, brands and products.
Exchange Offer and Consent Solicitation of Albanesi Group for U$S 325,395,255
Counsel to Generación Mediterránea S.A. and Central Térmica Roca S.A. in the co-issuance of 9.625% Class X Notes for U$S 325,395,255 due December 1, 2027 (the “Companies”) (the “New Notes”). The transaction was launched on October 22, 2021 and settled on December 1, 2021.
Class X Notes were issued by the Companies in exchange of their existing instruments: (i) 9.625% Senior Notes due 2023 issued by the Companies for U$S 336,000,000 (the “Existing Notes”); and (ii) certain existing loans for an aggregate outstanding principal amount of U$S 51,217,055 (the “Private Debt” and, together with the Existing Notes, the “Existing Instruments”). The issuance of the New Notes was carried out in accordance with General Resolution No. 861/2020 issued by the Argentine Securities Commission (Comisión Nacional de Valores).
The Bank of New York Mellon acted as New Notes Trustee, Paying Agent, Co-Registrar and Transfer Agent; D.F. King & Co. acted as Information and Exchange Agent; Citigroup Global Markets Inc., J.P. Morgan Securities LLC and UBS Securities LLC acted as Dealer Managers and Consent Solicitation Agents; and SBS Trading S.A., Banco de Servicios y Transacciones S.A. and Sociedad de Bolsa Centaurus S.A. acted as local Placement Agents.
Legal Advice in Petrolera Aconcagua Energía S.A.’s Third PyME CNV Notes Issuance
Counsel to Petrolera Aconcagua Energía S.A. issuance of Class V PYME CNV Notes for U$S 5,948,315 under the Globe Program of PYME CNV Notes for an amount of up to $ 1,500,000,000.
Class V Notes were issued for the purpose of carrying out investments in assets located in Argentina, including investments in production infrastructure and oil and gas developments.
Banco de Servicios y Transacciones S.A. acted as arranger and placement agent, and Banco Mariva S.A., SBS Trading S.A., Consultatio Investments S.A., Allaria Ledesma & Cía. S.A., and AdCap Securities Argentina S.A. acted as placement agents.
Legal Advice in the Issuance of Notes of CT Barragán S.A. for US$96,000,000
Counsel to Banco de Galicia y Buenos Aires S.A.U., Banco Santander Río S.A., Industrial and Commercial Bank of China (Argentina) S.A.U. and HSBC Bank Argentina S.A. as arrangers and placement agents, and also to Invertir en Bolsa S.A., SBS Trading S.A., Balanz Capital Valores S.A.U., Banco de la Provincia de Buenos Aires, BACS Banco de Crédito y Securitización S.A., Banco de Servicios y Transacciones S.A., Banco Hipotecario S.A., Puente Hnos. S.A., Banco Mariva S.A., Industrial Valores S.A., Negocios Financieros y Bursátiles S.A., AR Partners S.A., BNP Paribas Sucursal Buenos Aires, Banco Patagonia S.A., TPCG Valores S.A.U. and Macro Securities S.A. as placement agents, in the issuance of CT Barragán S.A.’s 0% Series 4 Notes for US$96,000,000 due November 26, 2024. The Series 4 Notes were issued on November 26, 2021 under the Global Notes Program for an amount of up to US$200,000,000. The Serie 4 Notes have a personal guarantee, subject to a resolutory condition granted by YPF S.A. and Pampa Energía S.A.
Banco de Galicia y Buenos Aires S.A.U., Banco Santander Río S.A., Industrial and Commercial Bank of China (Argentina) S.A.U. and HSBC Bank Argentina S.A. acted as arranger and placement agents, and Invertir en Bolsa S.A., SBS Trading S.A., Balanz Capital Valores S.A.U., Banco de la Provincia de Buenos Aires, BACS Banco de Crédito y Securitización S.A., Banco de Servicios y Transacciones S.A., Banco Hipotecario S.A., Puente Hnos. S.A., Banco Mariva S.A., Industrial Valores S.A., Negocios Financieros y Bursátiles S.A., AR Partners S.A., BNP Paribas Sucursal Buenos Aires, Banco Patagonia S.A., TPCG Valores S.A.U. and Macro Securities S.A. as placement agents of Series 4 Notes. Banco de Galicia y Buenos Aires S.A.U. also acted as Settlement Agent for Series 4 Notes.
Legal Advice in Automotores Pampeanos S.A.’s First PyME CNV Notes Issuance
Counsel to Automotores Pampeanos S.A. in the issuance of Class I PYME CNV Notes for $ 70,000,000 under the Global Program of PYME CNV Notes for an amount of up to $ 900,000,000.
The Notes were issued to build a new Volkswagen dealership in the city of General Pico, La Pampa province.
Banco de Servicios y Transacciones S.A. acted as arranger and placement agent of the Notes.
Legal Advice in the Issuance of Notes of Albanesi Group for US$83,227,057
Counsel to Generación Mediterránea S.A. and Central Térmica Roca S.A. in the co-issuance of 6% Class XI Notes for US$38,654,809 due November 12, 2024 and of 4.6% Class XII Notes for 48.161.545 UVAs (Unidades de Valor Adquisitivo) due November 12, 2024. Class XI Notes and Class XII Notes were issued under the Global Notes Program for an amount of up to US$700,000,000. A portion of Class XI Notes were issued in exchange of Class V Notes; Class VII Notes; and Class VIII Notes, and a portion of Class XII Notes were issued in exchange of Class VIII Notes.
SBS Capital S.A. and Banco de Servicios y Transacciones S.A. acted as arrangers, and SBS Trading S.A., Banco de Servicios y Transacciones S.A., Facimex Valores S.A., Banco Hipotecario S.A., Balanz Capital Valores S.A.U., Sociedad de Bolsa Centaurus S.A., AdCap Securities Argentina S.A., BACS Banco de Crédito y Securitización S.A., Banco de la Provincia de Buenos Aires, Macro Securities S.A., Allaria Ledesma & Cía. S.A. and Banco Supervielle S.A. acted as placement agents of Class XI Notes and Class XII Notes.
Issuance of PyME CNV Guaranteed Series I Notes of Agrofin Agrocommodities S.A. for US$1,000,000
Counsel to Agrofin Agrocommodities S.A. in the issuance of the PyME CNV Guaranteed Series I dollar linked Notes for US$1,000,000 with an interest rate of 0,75% due on April 6, 2023.
Banco Supervielle S.A., acted as arranger, placement and security agent of Series I Notes.
Futuros del Sur S.A., acted as placement agent of Series I Notes.
Legal counsel in the successful restructuring of the Province of La Rioja’s notes issued under foreign law for USD 300,000,000
Counsel of BofA Securities, Inc. as consent solicitation agent in the restructuring notes issued by the Province of La Rioja in the international capital markets for the principal amount of USD 300,000,000 at a rate of 9.750% due in 2025. The Province received the consent from holders representing 98.61% of the notes’ outstanding principal amount to implement certain amendments to its terms, thus reaching the highest acceptance rate for sovereign restructurings. As a result of the successful consent solicitation, the indenture governing the notes was amended to extend the notes’ maturity date, modify the interest rate and the amortization schedule of the notes, among other amendments.