Beccar Varela advised Capex on international issuance

Argentina law firm Estudio Beccar Varela advised Capex on the international issuance of Class 2 notes, valued at $300 million.

Capex is an energy company headquartered in Buenos Aires. It focuses on the generation and sale of electricity; the production and sale of oil, propane, buthane and gasoline; and the exploration and exploitation of oil and natural gas.

The notes were issued under the company’s Global Program for a maximum nominal value of up to US$600 million.

In this transaction, Deutsche Bank Securities, JPMorgan Securities, BBVA Securities and Itau BBA USA Securities acted as initial purchasers, while BACS Banco de Crédito y Securitización, Banco CMF. and Banco Hipotecario acted as Argentine placement agents. The fiduciary and payment agent is The Bank of New York Mellon, represented in Argentina by Banco Santander Río.

Partner Alejandro Poletto led the Beccar Varela team advising Capex on matters related to Argentine law, as well as in the approval of the global program and the price supplement before the Argentine Securities and Exchange Commission.

Linklaters acted advised Capex on matters related to US law.

The Argentine placement agents and the initial purchasers instructed Tavarone, Rovelli, Salim & Miani in Argentina and Shearman & Sterling in the US.

Ignacio Abella