Fermín Caride and José María Bazán

Bomchil and Bruchou on issue of CGC Class 31 and 32 Notes

Bomchil has represented Compañía General de Combustibles (CGC), and Bruchou & Funes de Rioja the underwriters, in the issuance of the Class 31 Notes and the Class 32 Notes.

The issue took place on 9 June 2023 under the company’s Frequent Issuer Scheme.

The Class 31 Notes, denominated in US dollars and payable in pesos at the applicable exchange rate at a fixed annual nominal rate of 0.00%, maturing in June 2026, were issued at an issue price of 116.300% for a total amount of US$52,379,297.

The Class 32 Notes, denominated in US dollars and payable in US dollars at a fixed annual nominal rate of 6.00% and maturing in December 2025, were issued at an issue price of 100.000% for a total amount of US$12,896,452.

The funds obtained from both placements will be used to invest in physical assets located in the country, to refinance liabilities, to integrate working capital in the country, to acquire goodwill located in the country, and/or to integrate capital contributions in companies controlled or related to the issuing company, as well as to acquire shares and/or to finance the commercial line of its business.

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

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

Bomchil’s team included partner Fermín Caride (pictured left) and associates María Victoria Tuculet and Luciano Zanutto.

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

L Giselle Estrada