We advised Oleoductos del Valle S.A. on the issuance of Notes for US$50,000,000
Bruchou & Funes de Rioja advised Oleoductos del Valle S.A and TCA Tanoira Cassagne advised Macro Securities S.A.U. as arranger and placement agent (the “Arranger”), Banco Santander Argentina S.A., Banco de Galicia y Buenos Aires S.A.U., Industrial and Commercial Bank of China (Argentina) S.A.U., Balanz Capital Valores S.A.U., Allaria S.A., Banco Comafi S.A., Max Capital S.A. and Banco Patagonia S.A. as placement agents (together, the “Placement Agents”), in the successful issuance of the Additional Class 3 Notes for an amount of US$50,000,000 (Dollars fifty million), additional to the class 3 notes originally issued by the Company on July 10, 2023 (the “Additional Class 3 Notes” or the “Notes”, indistinctly) with a fixed rate of 0.00%, maturing on July 10, 2027.
The proceeds from the placement will be used mostly to partially finance infrastructure works, mainly related to the Duplicar Project, which consists of a project to expand Oldelval’s transportation capacity that includes: (i) the laying of approximately 525 km of pipelines along Rio Negro, La Pampa and Buenos Aires; (ii) the repowering of pumping stations; and (iii) the replacement of the section in the Bahía Blanca area. This will allow, once the work is completed, to increase the country’s oil exports between approximately 180,000 and 250,000 barrels/day.
Legal counsel to Oleoductos del Valle S.A.
Legal counsel to the Arranger and the Placement Agents
TCA Tanoira Cassagne: Partners Alexia Rosenthal, Jaime Uranga and associates Lucia Viboud Aramendi, Carolina Mercero and Alejo Medici Raymundi.