We advised Vista on obtaining an international syndicated loan of up to US$600,000,000

Banco Santander, S.A. (“Santander”), Citicorp North America, Inc. (“Citicorp”) and Itaú Unibanco S.A., Nassau Branch (“Itaú”, and together with Santander and Citicorp, the “Banks”), as lenders, entered into a syndicated loan agreement with Vista Energy Argentina S.A.U. (“Vista Argentina”), as borrower, for a total amount of up to US$600,000,000 (the “Loan”). Citibank, N.A. acted as administrative agent.

Once disbursed, the proceeds of the Loan will be used by Vista Argentina to pay a portion of the purchase price to Equinor Argentina A.S. and Equinor Argentina B.V., Argentine Branch, for (i) 100% of the share capital of Equinor Argentina S.A.U., holder of a 30% participating interest in the Bandurria Sur block; and (ii) a 50% participating interest in the Bajo del Toro block, held by Equinor Argentina B.V., Argentine Branch.

Vista Argentina is a leading shale oil-focused company engaged in the exploration and production of oil and natural gas in Argentina, operating since April 2018. It is the largest independent oil producer in Argentina and in Vaca Muerta, the most extensive shale oil and gas play under development outside North America. Vista Argentina is a subsidiary of Vista Energy S.A.B. de C.V., a Mexican publicly traded corporation with shares listed on the Mexican Stock Exchange and ADSs listed on the New York Stock Exchange.

Counsel to Vista

Cleary Gottlieb Steen & Hamilton LLP acted as New York legal counsel through its team led by partner Manuel Silva, together with associate Rodrigo Lopez Lapeña and international lawyer Marina Rotman.

Bruchou & Funes de Rioja acted as Argentine legal counsel through its team led by partner José María Bazán, together with associates Ramón Augusto Poliche and Lucía De Luca. Likewise, the team was assisted by partner Pablo Martín Muir and associate Cecilia Calosso for the firm’s Tax Department.

Counsel to the Banks

Linklaters LLP acted as New York counsel through its team led by partners Matthew Poulter and Emilio Minvielle, together with associate Thomas Tiphaine Koffman and foreign attorney Francisco Algorta Garicoits.

Salaverri, Burgio & Wetzler Malbrán acted as Argentine legal counsel through its team led by partners Roberto Lizondo and Josefina Ryberg, together with associates Santiago Linares Luque and Carolina Naguelquin.