We advised on the increase of CGC’s syndicated loan to $184,000,000
Bomchil advised Compañía General de Combustibles S.A. (CGC) and Bruchou & Funes de Rioja advised Industrial and Commercial Bank of China (Argentina) S.A.U., Banco Santander Argentina S.A., La Sucursal de Citibank, N.A. establecida en la República Argentina, Banco de Galicia y Buenos Aires S.A.U., Banco de Valores S.A., Nuevo Banco de Santa Fe S.A. and Banco de Santa Cruz S.A. in a US$88 million increase of the syndicated loan obtained by CGC on April 11, 2023, increasing its amount to US$184 million.
The loan, which will accrue interest at a rate of 7.50% per annum, will be repayable in five quarterly, equal and consecutive installments payable as from October 11, 2025.
CGC is a leading independent energy company in Argentina dedicated, by itself and through its subsidiaries, to the development, exploration and production of oil and gas and, to a lesser extent, liquefied petroleum gas. It owns an important portfolio of exploration or production areas in various basins in Argentina, whose main operation is located in the province of Santa Cruz.
Counsel to the Banks:
Bruchou & Funes de Rioja‘s Banking & Capital Markets Department: Partner: José Bazán. Associates: Leandro Belusci, Sebastián Pereyra Pagiari and Gonzalo Vilariño.
Counsel to Compañía General de Combustibles S.A.:
Bomchil: Partners: Fermín Caride and María Victoria Tuculet. Associates: Luciano Zanutto and Tomás Celerier.
In-House: Esperanza Del Río.
