We advised the placement agents on Banco Provincia’s Debt Securities issuance for US$26,050,044 and AR$32,301,758,401
TCA Tanoira Cassagne advised Banco de la Provincia de Buenos Aires (“Banco Provincia”) and Bruchou & Funes de Rioja advised Banco Provincia, Banco de Galicia y Buenos Aires S.A., Banco Santander Argentina S.A., Balanz Capital Valores S.A.U., Allaria S.A., Macro Securities S.A.U., Invertironline S.A.U. and Provincia Bursátil S.A., on the issuance of: (i) Class III notes for a nominal amount of US$ 26,050,044 (the “Class III Debt Securities”); and (ii) Class IV notes for a nominal amount of ARS 32,301,758,401 (the “Class IV Debt Securities”).
The Class III Debt Securities are denominated in US dollars and will be payable in US dollars in Argentina. The Class IV Debt Securities are denominated and will be payable in Argentine Pesos.
The Class III Debt Securities will mature on November 25, 2026, and will accrue interest at a fixed interest rate of 6.50%. The Class IV Debt Securities will mature on November 25th, 2026, with a floating interest rate equivalent to the TAMAR rate plus a 4.00% margin.
Banco Provincia is an autonomous public law institution founded in 1822, and stands as the oldest bank in Hispanic America. It is wholly owned by the Province of Buenos Aires and serves as its financial agent, managing tax collections, salary, pension and retirement payments, and other provincial obligations.
With a strong territorial presence, it has more than 400 branches in the Province of Buenos Aires and the City of Buenos Aires, and has maintained a leading track record in financial inclusion and digital innovation.
Legal Counsel to the Placement Agents: Bruchou & Funes de Rioja‘s Banking & Capital Markets Department: Partner Alejandro Perelsztein; and associates Sebastián Pereyra Pagiari, Francisco Mendioroz and Lucila Larrea.
Legal Counsel to the Issuer: TCA Tanoira Cassagne: Partners Alexia Rosenthal and Jaime Uranga; and associates Carolina Mercero, Joaquín López Matheu and Florencia Ramos Frean.
In-house Counsel to Banco Provincia: Marcelo A. Casanovas and Gonzalo Pérez.
