We advised the initial purchasers, the arrangers and the local placement agents on the offering of Notes by the Province of San Juan for US$600,000,000
DLA Piper advised the Province of San Juan, and A&O Shearman and Bruchou & Funes de Rioja advised the initial purchasers, the arrangers and the local placement agents in connection with the offering of international notes denominated and payable in U.S. dollars, bearing interest at a rate of 9.550% per annum and maturing on October 1, 2035, in an aggregate principal amount of US$600,000,000 (the “Notes”).
The Province will use the proceeds from the offering of the Notes to finance infrastructure works, public investment and productive investment projects, with a particular focus on supporting the growth and development of the mining sector.
The Notes were issued on October 1, 2026 and bear interest at a rate of 9.550% per annum, payable semi-annually on April 1 and October 1 of each year. The principal will be amortized in three consecutive annual installments commencing on October 1, 2033.
The issuance of the Notes constitutes the Province’s first placement in the international capital markets.
J.P. Morgan Securities LLC and Santander US Capital Markets LLC acted as initial purchasers and arrangers of the Notes.
Allaria S.A., Balanz Capital Valores S.A.U., Banco Santander Argentina S.A., Banco de San Juan S.A., Bull Market Brokers S.A., Cucchiara y Cía. S.A., Macro Securities S.A.U., One618 Financial Services S.A.U., Puente Hnos. S.A., Cohen S.A. and SJB S.A. acted as local placement agents, and Banco de San Juan S.A. also acted as arranger.
Counsel to the Province of San Juan:
DLA Piper acted as New York and Argentine law counsel to the Province. The team comprised partners Tom Levato and Marcelo Etchebarne, Of Counsel Nicolás Teijeiro and associates Daiana Suk and Salvador Trotta (law clerk) (New York law); and partner Justo Segura, associates Federico Vieyra, Ignacio Comparato and Martina Mastandrea, and paralegal Maia Klein (Argentine law).
Counsel to the Initial Purchasers, the Arrangers and the Local Placement Agents:
As to New York law: A&O Shearman, with a team led by partner Alejandro Gordano and including associates Gabriela Laufer and Hanna Al-Malssi.
As to Argentine law: Bruchou & Funes de Rioja, with a team led by partner Alejandro Perelsztein and including associates Ximena Sumaria Gutiérrez, Victoria Negro and Delfina Amaya Toustau.
