We advised on the issuance of a debt “Conversion Bond” of the Province of Misiones

New Deal - January 19, 2023

The Province of Misiones (the “Province”) has successfully issued the second tranch of the Public Debt Security “Conversion Bond – Province of Misiones” maturing on March 15, 2031, for a total aggregate amount of AR$ 1,427,663,887 and at a nominal annual variable rate equivalent to the Badlar rate.

The second tranch of the Conversion Bond was issued to achieve the conversion of the capital of the loan agreement granted by ANSES in favor of the Province in 2018 and 2019, within the framework of National Laws N°27,260 and N°27,574 and National Decree N°458/21.

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 second tranch of the Conversion Bond was issued on Janaury 17, 2023 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.U. acted as placement agent.

Bruchou & Funes de Rioja advised the Province, Banco Macro S.A. and Macro Securities S.A.U. through partner José María Bazán, Senior Associate Leandro E. Belusci, and Associate´s Manuel Etchevehere and Pedro Azumendi.