Bruchou acts in issue of “Supercanal II” trust securities

Bruchou & Funes de Rioja acted as legal counsel in the issuance and placement by public offering in the Argentine Republic of $300,000,000 Class A Trust Debt Securities and $1,200,000,000 Class B Trust Debt Securities under the “Supercanal II” Financial Trust.

The issue was made under the “SUPERCANAL” Global Trust Securities Programme for a nominal value of up to US$30,000,000 (or its equivalent in other currencies or units of measure or value).

Moody’s Local AR ACR rated the Class A Trust Debt Securities as ”A+.ar (sf)”, and the Class B as ”A.ar (sf)”. In addition, the National Securities Commission authorised the public offering of the Trust Debt Securities on 22 March 2023 and the securities were issued on 31 March 2023.

TMF Trust Company (Argentina) acted as financial trustee; Adcap Securities Argentina, Global Valores and Banco Macro acted as arrangers; and Macro Securities, together with Adcap Securities Argentina and Global Valores, acted as underwriters.

Supercanal is a cable television service provider.

Bruchou’s team was led by partner José María Bazán (pictured), with support from associates Manuel Etchevehere and Facundo Suárez Loñ.