We advised the placement agents on Generación Litoral S.A.’s issuance of Notes for US$90,310,286

New Deal - March 23, 2023

The past 8th of March 2023 Generación Litoral S.A. (“GELI”) obtained financing in the local capital market for an aggregate amount of US$ 90,310,286, for the construction, development, engineering, procurement, installation and operation of a new 133 MW cogeneration power plant to be located in Arroyo Seco, Santa Fe (the “Arroyo Seco Project”). In order to incur in such financing, Generación Mediterránea S.A. (“GEMSA”) and Central Térmica Roca S.A. (“CTR”), both companies of Grupo Albanesi, carried out a consent solicitation process directed to the holders of the 9.625% Senior Notes due 2023 co-issued by GEMSA and CTR.

Obtaining the aforementioned consent allowed GELI to successfully complete the placement and issuance of Series I Notes due 2028 and Series III Notes due 2033 (the “Notes”) issued in the terms of the Global Note Program for an aggregate principal amount of up to US$ 200.000.000 (or its equivalent in other currencies or units of measure or value), which will be guaranteed by a trust, first-priority pledges on certain assets of the Arroyo Seco Project, , a first-priority pledge on up to 100% of GELI´s shares and a surety insurance.

Salaverri, Burgio & Wetzler Malbrán advised GELI in the issuance of the Notes in Argentina and acted as local counsel to GEMSA and CTR in the consent solicitation process.

Bruchou & Funes de Rioja advised Banco de Servicios y Transacciones S.A., and SBS Capital S.A as arrangers (the “Arrangers”), and Banco de Servicios y Transacciones S.A., SBS Trading S.A., Adcap Securities Argentina S.A., Banco de la Provincia de Buenos Aires, Macro Securities S.A.U., Facimex Valores S.A., BACS Banco de Crédito y Securitización S.A., Banco Hipotecario S.A., Balanz Capital Valores S.A.U., Banco Supervielle S.A., Supervielle Agente de Negociación S.A.U., Global Valores S.A. Nación Bursátil S.A., and TPCG Valores S.A.U., as co-placement agents for the offering of the Notes (the “Placement Agents”).

Counsel to the Placement Agents

Bruchou & Funes de Rioja acted as legal advisor to the Arrangers and Placement Agents through partner José María Bazán and associates Leandro Exequiel Belusci, Josefina Mortola Saiach and Pedro Maria Azumendi.

External Counsel to GELI

Salaverri, Burgio & Wetzler Malbrán acted as counsel to GELI, GEMSA and CTR through partners Roberto Lizondo and Pablo Fernández Pujadas, and associates Josefina Ryberg, Camila Mindlin, Carolina Colombo, Sofía Seoane, Tomás Hodgers, and Rodrigo Durán Libaak.

In-house Counsel to GELI

GELI, GEMSA and CTR were also advised by its in-house counsels Fabiana Lopez Leon, Claudio Gastón Mayorca, María Mercedes Cabello and Franco Robiglio.