We advised on the issuance of Notes by the Province of Río Negro for AR$2,889,572,757
Province of Río Negro (the “Province”) has successfully issued notes “BONO RÍO NEGRO SERIE I” due on April 11, 2024, as part of its financing program for the year 2023 (the “Notes”).
The Notes were issued for an aggregate amount of AR$ 2,889,572,757 and accruing a floating interest rate equal to the Badlar rate plus an 9% margin.
Payments due under the Notes will be guaranteed by an assignment of the Province´s rights over the funds or any other payment under the Federal Tax Co-Participation Regime, or the one replacing it in the future. The issuance date of the Notes was on April 5, 2023.
Banco Patagonia S.A. acted as arranger and placement agent.; Banco de Servicios y Transacciones S.A., Banco de Galicia y Buenos Aires S.A.U., Banco Hipotecario S.A. and Puente Hnos. S.A. acted as sub-placement agents.
Bruchou & Funes de Rioja advised the principal arranger and placement agent and sub-placement agents, through a team led by partner Alejandro Perelsztein and associates Ramón Augusto Poliche and Sofía Maselli.
TCA Tanoira Cassagne advised the issuer, through a team led by partners Alexia Rosenthal and Jaime Uranga and associates Juan Sanguinetti, Juan Manuel Simó, Teófilo Trusso y Ana Lucía Miranda.
