Legal counsel to Province of Córdoba, as the issuer, and Banco de la Provincia de Córdoba S.A., as Argentine manager and placement agent, in the issuance of US$725 million worth of sovereign debt in an offering that settled on July 2, 2025. The Notes bear a 9.750% annual coupon and mature on July 2, 2032. The Province of Córdoba used a portion of the notes sale – US$362 million – to repurchase US$360,338,929 aggregate principal amount of its U.S Dollar Step-Up Notes due 2027. The remaining portion of the funds will be used for finance infrastructure projects and/or repay existing liabilities.
J.P. Morgan Securities LLC and Santander US Capital Markets LLC acted as global coordinators and joint book-running managers, Balanz Capital UK LLP acted as joint book-running manager, Banco de la Provincia de Córdoba S.A. acted as Argentine manager and placement agent, and Banco Santander Argentina S.A., Balanz Capital Valores S.A.U., Banco de Galicia y Buenos Aires S.A., Les Cinq Capital S.A., Puente Hnos. S.A., Facimex Valores S.A., Becerra Bursátil S.A. and S&C Inversiones S.A. acted as Argentine placement agents. Under the indenture, Deutsche Bank Trust Company Americas acted as trustee, registrar, principal paying agent and transfer agent.