Bruchou and TCA in issue of Oldelval Class 3 Notes
Bruchou & Funes de Rioja has advised Oleoductos de Valle (Oldelval), and Tanoira Cassagne Abogados has advised the underwriters, in the placement of the Class 3 Notes for a nominal amount of US $60,000,000 at a fixed rate of 0.00%, maturing on 10 July 2027.
The proceeds of the placement will be used for the most part to partially finance infrastructure works, mainly related to the Duplicar Project, which consists of an expansion of Oldelval’s transportation capacity.
The Duplicar project includes the laying of approximately 525 km of pipelines along Rio Negro, La Pampa and Buenos Aires; the upgrading of pumping stations; and the replacement of pipelines in the Bahía Blanca area. Once completed, this will increase the country’s oil exports by approximately 180,000 to 250,000 barrels/day.
Macro Securities acted as arranger and underwriter; Banco Santander Argentina, Banco de Galicia y Buenos Aires, Industrial and Commercial Bank of China (Argentina), Balanz Capital Valores, Allaria, Banco Patagonia, Max Capital, Puente Hnos, Banco Comafi, TPCG Valores and Invertir en Bolsa acted as underwriters.
Bruchou’s team included partner José María Bazán (pictured left) and associates Leandro Belusci, Josefina Mortola Saiach and Sofía Maselli.
TCA’s team was led by partners Alexia Rosenthal (pictured centre) and Jaime Uranga (pictured right), with support from associates Lucia Viboud Aramendi, Carolina Mercero and Alejo Medici Raymundi.
