Tanoira Cassagne and Bruchou, Fernández Madero & Lombardi advise on Río Negro restructuring

Tanoira Cassagne Abogados and Bruchou, Fernández Madero & Lombardi advised on the $300 million notes issued by the Argentinian province

Tanoira Cassagne Abogados acted as advisor to the Province of Río Negro, and Bruchou, Fernández Madero & Lombardi, acted as advisor to BofA Securities, Inc. y UBS Securities LLC, as consent solicitation agent, in the restructuring of $300 million principal amount of outstanding notes issued by the Province in the international capital markets.

The restructuring was structured through a thorough consent solicitation exercise involving negotiations with ad hoc holders’ committees and advisors.

Río Negro province, Argentina, received consents from holders representing more than 95% of the aggregate principal amount of $286,779,000 million of the 7.75% Notes due on 2025 (“2025 Notes”) to modify certain terms and conditions of such 2025 Notes (the “Consent Solicitation”). The terms and conditions of the Consent Solicitation aimed to maintain the provincial public debt at sustainable levels.

BofA Securities, Inc. y UBS Securities LLC. acted as consent solicitation agents, Morrow Sodali Ltd. acted as information and tabulation agent, and Quantum Finanzas acted as financial advisor to the Province in connection with the Consent Solicitations.

Tanoira Cassagne Abogados acted as Argentine law counsel through a team led by partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured right) and associates Juan Sanguinetti, Lucía Farrando and Carolina Demarco.

Linklaters LLP assisted as international counsel through a team led by partner Conrado Tenaglia alongside counsel Alejandro Gordano and Matthew Brigham (Tax), associate Stephanie Torres and foreign attorneys Monica Perez-Banuet Farell and Juan Mata, as advisors to the Province in connection with the Consent Solicitation.

Bruchou, Fernández Madero & Lombardi acted as Argentine law counsel to the solicitation agents through a team led by partner Alejandro Perelsztein and associates Andrés Chester, Emilio Diaz Reynolds and Lucila Dorado, and Shearman & Sterling LLP was the US counsel through a team led by partner Antonia E. Stolper alongside counsel Robert Powel, and foreign attorney Pedro de Elizalde, advised BofA Securities, Inc. and UBS Securities LLC Inc. in connection with the Consent Solicitation.