Bomchil and Bruchou on CGC Class 30 Notes issue
Bomchil has represented Compañía General de Combustibles (CGC), and Bruchou & Funes de Rioja the arrangers and underwriters, in the issuance of the Class 30 Notes denominated in US dollars and payable in pesos at the applicable exchange rate, at an issue price of 100.5% (below par) and rate of 0.00%, and maturing in March 2025 for a total nominal value of US$150,000,000.
The issue took place on 10 March 2023 under the Company’s Frequent Issuer Scheme. The proceeds from the placement of the Class 30 Notes will be applied by the Company, in accordance with the provisions of article 36 of the Negotiable Obligations Law, in particular, for any of the following purposes: (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, to the acquisition of equity interests and/or financing of the commercial line of its business.
Banco de Galicia y Buenos Aires, Industrial and Commercial Bank of China (Argentina), Max Capital, Facimex Valores, Banco Patagonia, Banco CMF, Allaria Ledesma & Cía. and Banco Santander Argentina acted as arrangers and underwriters. Itaú Valores, Latin Securities, Banco Itaú Argentina, BACS Banco de Crédito y Securitización, Balanz Capital Valores, Banco Mariva, Banco Hipotecario, Banco de la Provincia de Buenos Aires, TPCG Valores, Cocos Capital, Macro Securities and Puente Hnos. acted as underwriters.
The Notes were authorised for listing on Bolsas y Mercados Argentinos and for trading on the Mercado Abierto Electrónico.
Bomchil’s team included partner Fermín Caride (pictured left) and associates María Victoria Tuculet, Luciano Zanutto and Delfina Ortega.
Bruchou’s team comprised partner José Bazán (pictured right) and associates Leandro Exequiel Belusci and Teo Panich.
