DLA Piper and Bruchou & Funes de Rioja acts on Province of Mendoza’s debt securities
DLA Piper Argentina and Bruchou & Funes de Rioja have acted on the issuance of debt securities by the Province of Mendoza. The transaction, which took place on March 20, 2025, involved the issuance of two classes of TAMAR Debt Securities totaling Ps. 56,772,029,000.
The issuance comprised Class 1 TAMAR Debt Securities amounting to Ps. 32,952,029,000 with a maturity date of June 20, 2026, and Class 2 TAMAR Debt Securities worth Ps. 23,820,000,000 maturing on December 20, 2026. Both classes were issued under the Prospectus dated March 14, 2025.
These debt securities will accrue interest on a quarterly basis and are secured with Federal Tax Co-Participation Regime resources. The Province of Mendoza intends to use the net proceeds from this issuance to cancel debt amortization services provided in the 2025 Budget Law.
The transaction involved several prominent financial institutions acting as Placement Agents, including Banco de Galicia y Buenos Aires, Macro Securities, Max Capital, and Puente Hnos.
DLA Piper Argentina advised the Province of Mendoza on this transaction. The team was led by partner Justo Segura (pictured), who was supported by associates Federico Vieyra and Mariana Carbajo.
Bruchou & Funes de Rioja provided legal counsel to the placement agents. The firm’s team was headed by partner Alejandro Perelsztein, working alongside associates Malena Tarrío, Facundo Suárez Loñ, and Marco Haas.
