We advised on Pampa Energía´s International Exchange Offer.
Cleary Gottlieb Steen & Hamilton LLP; Salaverri, Burgio & Wetzler Malbrán; Bruchou & Funes de Rioja and Davis Polk & Wardwell LLP acted as advisors in Pampa Energía´s International Exchange Offer
On August 8, 2022, Pampa Energía S.A. (“Pampa”), a leading company in the energy and oil and gas sector, successfully concluded the exchange offer of its 7.375% Notes due 2023 (originally issued by Petrobras Argentina S.A.) (the “Old Notes”), for newly issued 9.500% Notes due December 8, 2026 (the “New Notes”) and cash consideration (the “Exchange Offer”); as provided in the Suplemento de Prospecto y Canje and the Exchange Offering Memorandum, both dated June 16, 2022 (as subsequently amended).
Pampa concluded the Exchange Offer with a total participation of US$407,093,000 in aggregate principal amount of Old Notes, representing 81.4% of the aggregate principal amount of Old Notes outstanding.
Citigroup Global Markets Inc., Santander Investment Securities Inc., BNP Paribas Securities Corp., HSBC Securities (USA) Inc., and J.P. Morgan Securities LLC acted as dealer managers (the “Dealer Managers”), and Banco de Galicia y Buenos Aires S.A.U., Industrial and Commercial Bank of China (Argentina) S.A.U. and Balanz Capital Valores S.A.U. acted as local placement agents (the “Local Placement Agents”).
Counsel to Pampa Energía S.A.
Salaverri, Burgio & Wetzler Malbrán acted as local legal counsel through its team led by partner Roberto Lizondo and associates Lucía de Miceu, Delfina Meccia and Camila Mindlin.
Cleary Gottlieb Steen & Hamilton LLP acted as New York legal counsel through its team led by partner Juan G. Giráldez and associates Rodrigo López Lapeña, José Fuentes and Sofía Montes de Oca.
In-House Counsel to Pampa Energía S.A.
Pampa was advised by its in-house legal team led by María Agustina Montes, Juan Manuel Recio and Maite Zornoza, and its in-house financial team led by Patricio Benegas, Debora Tortosa Chavez and Julieta Castagna.
Counsel to the Dealer Managers and the Local Placement Agents
Bruchou & Funes de Rioja acted as local legal counsel through its team led by partner José Bazan and associates Leandro Belusci, Lucila Dorado and Manuel Rodríguez Costi.
Davis Polk & Wardwell LLP acted as New York legal counsel through its team led by Maurice Blanco and associates Katia Brener y Cristian Ragucci.