We advised the Initial Purchasers and the Local Placement Agents in Pampa Energía’s International Notes Issuance
On December 16, 2024, Pampa Energía S.A. (“Pampa”), a leading company in the energy and oil and gas sector, issued, in the local and international markets, its 7.875% senior unsecured notes due 2034, for an aggregate principal amount of US$360,000,000 (the “Notes”), under the frequent issuer regime from the Argentine Securities Commission (Comisión Nacional de Valores).
The transaction was carried out in accordance with Rule 144A and Regulation S of the U.S. Securities Act of 1933.
The Notes have been admitted for listing on the Bolsas y Mercados Argentinos S.A., and admitted for trading on the Mercado Abierto Electrónico S.A.
The Company will use the proceeds of the Notes (i) to redeem in full its outstanding 7.500% senior series I notes due 2027, and (ii) for other general corporate purposes, including without limitation any further acquisitions or integration of working capital located in Argentina or repayment of any indebtedness.
Several underwriters acted as joint bookrunners and initial purchasers in the Notes offering (“Initial Purchasers”) and Banco Santander Argentina S.A., Banco de Galicia y Buenos Aires S.A.U. and Balanz Capital Valores S.A.U. acted as local placement agents in the Notes offering (the “Local Placement Agents”). The Bank of New York Mellon acted as Trustee, Paying Agent, Registrar and Transfer Agent under the Indenture entered into with Pampa and Banco Santander Argentina S.A., the latter acting as Argentine Registrar and Transfer Agent, Argentine Paying Agent and Representative of the Trustee in Argentina.
Counsel to the Initial Purchasers and the Local Placement Agents
Bruchou & Funes de Rioja‘s Banking & Capital Markets Department acted as local legal counsel through its team led by partner José María Bazan and associates Leandro E. Belusci, Pedro María Azumendi and Lucía De Luca.
Davis Polk & Wardwell LLP acted as New York legal counsel through its team led by Maurice Blanco and counsel Drew Glover.
Counsel to Pampa Energía S.A.
Salaverri, Burgio & Wetzler Malbrán acted as local legal counsel through its team led by partner Roberto Lizondo and associates Natalia Ostropolsky, Rodrigo Durán Libaak, Francisco José Grasso and Valentina Buschiazzo Ripa.
Cleary Gottlieb Steen & Hamilton LLP acted as New York legal counsel through its team led by partner Juan G. Giráldez, and associates Laura Daugherty and Juan Ignacio Leguizamo.
In-House Counsel to Pampa Energía S.A.
Pampa was internally advised by Adolfo Zuberbuhler, Julieta Castagna and Debora Tortosa Chavez as in-house financial advisors and María Agustina Montes, Maite Zornoza, Juan Manuel Recio y Camila Mindlin as in-house counsels.
Counsel to the Trustee, Registrar, Principal Paying Agent and Transfer Agent
Emmet, Marvin & Martin, LLP acted as legal counsel through its team led by partner Matthew W. Peetz and associate Evan O’Connor.
