We advised Banco de la Nación Argentina on the issuance of Debt Securities for the equivalent of US$270 million
On July 14, 2026, Banco de la Nación Argentina (“Banco Nación”) successfully issued (i) its Series 4 Debt Securities in an aggregate principal amount of AR$93,196,827,247 (Argentine Pesos ninety-three billion one hundred ninety-six million eight hundred twenty-seven thousand two hundred forty-seven), at an annual variable interest rate equal to the Private TAMAR rate plus a 3.25% margin, due July 14, 2027 (the “Series 4 Debt Securities”); (ii) its Series 5 Debt Securities in an aggregate principal amount of US$95,127,607 (U.S. Dollars ninety-five million one hundred twenty-seven thousand six hundred seven), at an annual fixed interest rate of 6.00%, due July 14, 2029 (the “Series 5 Debt Securities”); and (iii) its Series 6 Debt Securities in an aggregate principal amount of UVA 83,259,405 (Acquisition Value Units eighty-three million two hundred fifty-nine thousand four hundred five), at an annual fixed interest rate of 6.50%, due July 14, 2028 (the “Series 6 Debt Securities” and, together with the Series 4 Debt Securities and the Series 5 Debt Securities, the “Debt Securities”). All Debt Securities were issued under Banco Nación’s global program for the issuance of short, medium and long-term debt securities for a maximum aggregate outstanding principal amount of up to US$1,500,000,000 (U.S. Dollars one billion five hundred million) (or its equivalent in other currencies, units of measure and/or units of value) (the “Program”). The aggregate principal amount of the Debt Securities exceeded the equivalent of US$270 million.
With this transaction, whose demand significantly exceeded the initial offering, Banco Nación continues executing its Program and deepens its strategy of diversifying funding sources, strengthening its capacity to support the growth of the real economy through transparent and competitive instruments in the capital markets. According to Banco Nación, the proceeds are expected to be used for financing mortgage loans for housing and activities related to large-scale investment projects, contributing to boosting economic activity, developing the housing market, and consolidating productive investment in Argentina.
The Debt Securities have been admitted for listing on Bolsas y Mercados Argentinos S.A. and authorized for trading on A3 Mercados S.A.
Banco Nación and Banco Santander Argentina S.A. acted as arrangers and placement agents in the transaction, while Banco de Galicia y Buenos Aires S.A., Banco BBVA Argentina S.A., Macro Securities S.A.U., Balanz Capital Valores S.A.U., Nación Bursátil S.A., Allaria S.A. and Facimex Valores S.A. acted as placement agents (collectively, the “Placement Agents”).
Legal Advisors to Banco Nación
Bruchou & Funes de Rioja: acted as legal advisors to Banco Nación with the team led by partner Alejandro Gabriel Perelsztein and associates Ramón Augusto Poliche, Lucía de Luca, Micaela Zárate and Marco Haas.
In-House Legal Counsels: Javier Fernando Noya, Néstor Fabián Galan, Gonzalo Saafigueroa and Patricia Alejandra Castro.
Legal Advisors to Placement Agents
Marval O’Farrell Mairal: acted as legal advisors to the Placement Agents with the team led by partner Sergio Tálamo and associates Martín Iván Lanús, Pedro María Azumendi, Lautaro Penza and Candela Di Cuffa. Partner Francisco Abeal also advised on exchange control matters.
