Bruchou advises on the restructuring of the Province of Salta

Bruchou has advised on the successful restructuring of $350 million outstanding notes of the Argentinian province of Salta 

Bruchou, Fernández Madero & Lombardihas acted as advisor to BofA Securities, Inc. in the restructuring of $350 million principal amount of outstanding 9.125% Notes due 2024  issued by the province of Salta in the international capital markets. The restructuring was executed through a solicitation of holder consents and involved negotiations with holders’ representatives and their advisors.

The province of Salta received consents from holders representing 95.51% of the outstanding principal amount of the notes to certain proposed amendments to the terms of the Notes.

As a result of the successful Consent Solicitation, the indenture governing the Notes was amended to extend the maturity date, modify the interest rate and the amortization schedule of the Notes, among others.

BofA Securities acted as consent solicitation agent and D.F. King & Co. acted as information and tabulation agent.

Bruchou’s team led by partner Alejandro Perelsztein and associates Cristian Ragucci and Manuel Etchevehere.