We advise on the issuance of secured Treasury Notes of the Province of Misiones
Bruchou, Fernández Madero & Lombardi advise on the issuance of secured Treasury Notes of the Province of Misiones
The Province of Misiones (the “Province”), has successfully issued the Series A Treasury Notes maturing on November 3, 2022, for a total aggregate amount of AR$650.000.000, with a nominal annual variable rate equivalent to the Badlar rate plus a margin of 700 basis points (“Serie A Treasury Notes”) and the Series B Treasury Notes maturing on December 3, 2022, for a total aggregate amount of AR$650.000.000, with a nominal annual variable rate equivalent to the Badlar rate plus a margin of 750 basis points (“Serie B Treasury Notes”), under the Province’s Treasury Notes Program for the year 2022, created by Provincial Decree N°639/22, within the aggregate amount of AR$1.300.000.000 (pesos one billion three hundred million) or its equivalent in other currencies.
The payments are secured by an assignment in guarantee of the Province’s collection rights over the funds or any other payment coming from the Federal Co-participation Tax Regime, or the one that may replace it in the future.
The Serie A Treasury Notes and the Serie B Treasury Notes were issued on June 6, 2022, and requested to be listed and traded on BYMA S.A. and MAE S.A., respectively.
Banco Macro S.A. acted as arranger and Macro Securities S.A. acted as placement agent.
In-house counsel: Rodrigo Alejandro Covello.