Bruchou and Beccar Varela act in issues of Notes by Vista

Bruchou & Funes de Rioja has advised Vista Energy Argentina, and Beccar Varela has advised the underwriters, in the issuance of Class XV, XVI and XVII Notes.

The issue took place on 6 December, where the Class XV Notes were denominated, integrated and payable in US dollars, for a par value of US $13,500,000; the Class XVI Notes were denominated in US dollars, to be integrated exclusively in kind through the delivery of the Class V and IX Notes issued by Vista and payable in pesos, for a par value of US $63,450,309; and the Class XVII Notes were denominated in US dollars, integrated and payable in pesos, for a par value of US $39,118,007.

The Notes were issued under the Global Negotiable Obligations Programme for the issuance of short, medium and/or long term simple negotiable obligations, not convertible into shares, for a maximum outstanding amount of up to US $800,000,000 (or its equivalent in other currencies and/or units of value).

Class XV matures on 20 January 2025 and bears interest at a fixed annual nominal rate equivalent to 4.00%, with 100% of the principal being amortised in a single payment on its maturity date. Class XVI will mature on 6 June 2026 and will not accrue interest and 100% of its principal will be amortised on the maturity date. Class XVII will mature on 6 December 2026, will not accrue interest, and its principal will be fully amortised on its maturity date.

In addition, the Notes were admitted for listing on the Argentine Stock Exchange and Markets and authorised for trading on the Electronic Open Market. On 30 November, Moody’s Local AR Risk Rating Agent rated the Notes as follows: Class XV as “AA+.ar” and Classes XVI and XVII as “AAA.ar”.

In Class XV, Banco BBVA Argentina, Banco Macro, and Macro Securities acted as underwriters. In Classes XVI and XVII, Banco BBVA Argentina, Banco de Galicia y Buenos Aires, Banco Macro, and Macro Securities acted as underwriters.

Florencia Hardoy and Rosario Maffrand acted as in-house lawyers for Vista.

Bruchou’s team was led by partner José María Bazán (pictured left), with the participation of Ramón Augusto Poliche, Josefina Mórtola Saiach and Branko Serventich.

Beccar Varela’s team included partner Luciana Denegri (pictured right), and lawyers María Victoria Pavani, Julián Ojeda, Franco Scervino and María Belén Tschudy.