Bomchil and Bruchou on new CGC issues

Bomchil has advised Compañía General de Combustibles (CGC), and Bruchou & Funes de Rioja as underwriters, in the issuance of Class 33 and 34 Notes due February 2026.

The issue was made on 23 February, under the company’s Frequent Issuer Regime, where the Class 33 Notes were denominated in US dollars and payable in pesos at the applicable exchange rate, at a fixed annual nominal rate of 4.00%, for a total amount of USD $21,462,620; and the Class 34 Notes were denominated in US dollars and payable in US dollars, at a fixed annual nominal rate of 7.00%, for a total amount of USD $38,537,380.

The proceeds from the placement of the Class 33 and 34 Notes will be used for: (i) investment in physical assets located in the country; (ii) refinancing of liabilities; (iii) integration of working capital in the country; (iv) acquisition of goodwill located in the country; and/or (v) integration of capital contributions in companies controlled by or related to the issuing company, the acquisition of shares and/or financing of the commercial line of business of the issuing company.

Banco de Galicia y Buenos Aires, Industrial and Commercial Bank of China (Argentina), and Banco Santander Argentina acted as arrangers and underwriters. Allaria, Balanz Capital Valores, BACS Banco de Crédito y Securitización, Max Capital, Banco Comafi, Banco Hipotecario, Puente Hnos, Banco Patagonia, Banco Mariva, TPCG Valores, Macro Securities and Facimex Valores acted as placement agents.

The bonds were authorised for listing on the Buenos Aires Stock Exchange and Markets and for trading on the Electronic Open Market.

Bomchil’s team consisted of partners Fermín Caride (pictured left) and María Victoria Tuculet (pictured centre), assisted by associate Luciano Zanutto.

Bruchou’s team was led by partner José Bazán (pictured right), with support from associates Leandro Belusci, Teo Panich and Melina Signorello.