We advise banks in the granting of a syndicated loan to Compañía General de Combustibles S.A. for US$96,000,000
Bomchil advised Compañía General de Combustibles S.A., as borrower, and Bruchou & Funes de Rioja acted as counsel to the banks in a US$96,000,000 syndicated loan.
Compañía General de Combustibles S.A. is a leading 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.
The lenders to the loan were Industrial and Commercial Bank of China (Argentina) S.A.U., which also acted as administrative agent, Banco Santander Argentina S.A., La Sucursal de Citibank, N.A. establecida en la República Argentina, Banco de Valores S.A., Nuevo Banco de Santa Fe S.A. and Banco de Santa Cruz S.A.
The loan, which will accrue interest at a 6.50% rate, will be repaid in five annual installments as from October 11, 2024.
Counsel to Compañía General de Combustibles S.A.:
Bomchil: Partner: Fermín Caride. Associates: María Victoria Tuculet and Hugo Bruzone (h).
In-House: Esperanza Del Río.
Counsel to the Banks:
Bruchou & Funes de Riojas: Partner: José Bazán. Associates: Leandro Belusci, Cristian Ragucci and Facundo Suarez Loñ.