We advised the placement agents and the sub-placement agents in the Province of Mendoza’s issuance of CER Debt Securities for AR$77,038,876,806
On March 14, 2024, the Province of Mendoza issued: (i) Class 1 CER Debt Securities in the amount of Ps. 37,314,776,000, with an issue price of Ps. 1.0178 per each security and maturity date of December 14, 2025; and (ii) Class 2 CER Debt Securities in the amount of Ps. 39,724,100,806, with an issue price of Ps. 0.9600 per each security and maturity date of March 14, 2027. Both Debt Securities were issued under the Prospectus dated March 11, 2024.
The principal of the Debt Securities will be adjusted according to the variation of the Stabilization Reference Coefficient (“CER”) and they are secured with Federal Tax Co-Participation Regime resources
The Province will use the net proceeds from the issuance of the Debt Securities to cancel debt amortization services provided for in the 2024 budget.
Banco de Galicia y Buenos Aires S.A.U., Banco Santander Argentina S.A. and TPCG Valores S.A.U., acted as Placement Agents of the transaction. Adcap Securities Argentina S.A. acted as Sub Placement Agent for the transaction.
Legal advisors to the Province.
DLA Piper Argentina advised the Province of Mendoza through partner Justo Segura and associates Federico Vieyra and Marcelo Ra.
Legal advisors to the Placement Agents and the Sub Placement Agent.
Bruchou & Funes de Rioja‘s Banking & Capital Markets Department advised Banco de Galicia y Buenos Aires S.A.U., Banco Santander Argentina S.A., TPCG Valores S.A.U. and Adcap Securities Argentina SA., through partner Alejandro Perelsztein and associates Manuel Etchevehere, Malena Tarrío and Sofía Maselli.
