Bruchou & Funes de Rioja has acted as advisor in the placement of Central Puerto’s (CEPU) Class B Notes for a par value of US$ 50,000,000.
The issue was made under the framework of the programme of simple negotiable debentures (not convertible into shares) for up to US$ 500,000,000 (or its equivalent in other currencies and/or units of value). The Class B Notes are denominated in US dollars, mature on 17 October 2025 and bear interest at a fixed rate of 10% per annum.
The Class B Notes were placed (i) in Argentina through a public offering to “qualified investors” only; and (ii) through an unregistered international offering in the United States to persons who are not “US persons” (as defined in Rule 902 under the Securities Act) and who are not acquiring Class B Notes for the account or benefit of a US person, in “offshore” transactions pursuant to Regulation S under the Securities Act.
In addition, the Class B Notes have been authorised for listing on MAE, BYMA and the Luxembourg Stock Exchange for trading on the Euro MTF Market.
Balanz Capital Valores, Banco de Galicia y Buenos Aires and Puente Hnos. acted as underwriters, also advised by the firm. The Bank of New York Mellon acted as trustee, registrar and transfer agent; The Bank of New York Mellon, London Branch acted as paying agent; Banque Internationale à Luxembourg acted as listing agent in Luxembourg; and Banco Santander Argentina acted as representative of the trustee in Argentina.
José Manuel Pazos, Leonardo Marinaro and María Justina Richards acted as in-house counsels to CEPU.
Bruchou’s team included partner José María Bazán (pictured) and associates Manuel Etchevehere and Teo Panich.