We advised the placement agents on the issuance of debt securities by the Province of Buenos Aires for AR$316,611,553,576
On April 30, 2026, the Province of Buenos Aires carried out the issuance of variable-rate Public Debt Securities maturing in 2027, for a nominal amount of ARS 113,402,907,141 (the “TAMAR Notes”), and inflation-linked (CER-adjusted) peso-denominated Public Debt Securities maturing in 2028, for a nominal amount of ARS 203,208,646,435 (the “CER Notes”).
The TAMAR Notes, maturing on April 30, 2027, amortize in full at maturity and accrue interest at a rate equal to the TAMAR rate plus a fixed margin of 7.00% per annum. The CER Notes, maturing on April 28, 2028, amortize in full at maturity, adjust their outstanding principal based on the Reference Stabilization Coefficient (CER), and accrue interest at a fixed rate of 9.00% per annum on the adjusted principal.
The auction of the Public Debt Securities included a cash subscription tranche and an in-kind subscription tranche, the latter implemented through the delivery of the Province of Buenos Aires Public Debt Security (PBY26). The issuance reached a total amount of ARS 316,611,553,576.
The Province of Buenos Aires will allocate the net proceeds from the issuance of the Public Debt Securities to finance the execution of public investment projects, currently under development or expected to be initiated, and to service public debt obligations.
Allaria S.A., Banco BBVA Argentina S.A., Banco de la Provincia de Buenos Aires, Cucchiara y Cía. S.A., Facimex Valores S.A., Invertir en Bolsa S.A., Macro Securities S.A., Max Capital S.A., Provincia Bursátil S.A., and Puente Hnos. S.A. acted as placement agents in the transaction.
Legal Advisors to the Province
DLA Piper Argentina advised the Province of Buenos Aires with a team led by partner Justo Segura, along with associates Federico Vieyra and Ignacio Comparato, and paralegal Maia Klein.
Legal Advisors to the Placement Agents
Bruchou & Funes de Rioja advised the placement agents in the transaction with a team led by partner Alejandro Perelsztein and associates Manuel Etchevehere, Juan María Rosatto, and Victoria Negro.
