We advised on the issuance of secured Series IV Treasury Notes of the Province of Neuquén.
On September 6, the Province of Neuquén (the “Province”), has successfully issued the Treasury Notes Series IV for a total aggregate amount of AR$10.000.000.000 according to the following:
i) Treasury Notes Series IV Class 1 maturing on September 6, 2023, issued for a total aggregate amount of AR$939,665,603, with a nominal annual variable rate equivalent to the Badlar rate plus a margin of 7,00%, secured with resources under the Federal Tax Co-Participation Regime paid to the Province;
ii) Treasury Notes Series IV Class 2 Trench A maturing on March 6, 2024, issued for a total aggregate of U$S22,704,315 with a nominal annual interest rate of 3.96%, secured with resources under the Federal Tax Co-Participation Regime paid to the Province; and
iii) Treasury Notes Series IV Class 2 Trench B maturing on March 6, 2025, issued for a total aggregate of U$S42.612.669, with a nominal annual interest rate of 5.49%, secured with certain Oil Royalties paid to the Province.
Banco Provincia del Neuquén S.A. acted as principal arranger, placement agent and calculation agent; Banco de Galicia y Buenos Aires S.A.U. and Banco Macro S.A. acted as co-arrangers; and Banco de Galicia y Buenos Aires S.A.U., Macro Securities S.A., Adcap Securities Argentina S.A., Banco Patagonia S.A., Balanz Capital Valores S.A.U., Banco de Servicios y Transacciones S.A., Compañía Financiera Argentina S.A., Banco Comafi S.A. and TPCG Valores S.A.U. acted as co-placement agents.
TCA Tanoira Cassagne advised the issuer, through a team led by partners Alexia Rosenthal and Jaime Uranga and associates Juan Sanguinetti, Pilar Domínguez Pose and Juan Manuel Simó.
Bruchou & Funes de Rioja advised the co-arrangers and co-placement agents, through partner Alejandro Perelsztein and associates Leandro E. Belusci, Manuel Etchevehere and Sebastián Pereyra Pagiari.