We advised Oleoductos del Valle S.A. in the issuance of Notes for US$ 85,000,000

Bruchou & Funes de Rioja advised Oleoductos del Valle S.A. (“Oldelval”) and TCA Tanoira Cassagne advised Macro Securities S.A.U., Banco de Galicia y Buenos Aires S.A.U and Balanz Capital Valores S.A.U as arrangers and placement agents (the “Arrangers”), and Banco BBVA Argentina S.A., Banco Santander Argentina S.A., SBS Trading S.A., Adcap Securities Argentina S.A., Banco Supervielle S.A., Banco de la Provincia de Buenos Aires, Max Capital S.A., Buenos Aires Valores S.A., Industrial and Commercial Bank of China (Argentina) S.A.U., Allaria S.A., Facimex Valores S.A., Banco de Servicios y Transacciones S.A., Banco Hipotecario S.A., Banco Patagonia S.A., Invertironline S.A.U., Invertir en Bolsa S.A., Petrini Valores S.A., Banco de la Nación Argentina, Banco de Valores S.A., Banco Mariva S.A. and TPCG Valores S.A.U as placement agents (together, the “Placement Agents”), in the successful issuance of the Class 5 Notes, denominated and payable in US Dollars in Argentina for a nominal amount of US$85,000,000, which will accrue interest at a fixed rate of 7.89% and will mature on June 12, 2028.  

The proceeds from the placement will be used mostly to partially finance infrastructure works, mainly related to the Duplicar Plus Project, which is a project directed to expand Oldelval’s transportation capacity that includes: (i) laying approximately 525 km of pipelines along Rio Negro, La Pampa and Buenos Aires; (ii) repowering of pumping stations; and (iii) replacement of the section in the Bahía Blanca area.

Legal counsel to Oleoductos del Valle S.A.

Bruchou & Funes de Rioja‘s Banking & Capital Markets Department: Partners José Bazán and Leandro Belusci, and associates Quimey Lía Waisten and Marco Haas.

Legal counsel to the Arrangers and Placement Agents

TCA Tanoira Cassagne: Partners Alexia Rosenthal, and Rocío Carrica and associates Carolina Mercero, Joaquin López Matheu and Arturo Amos.