Bruchou and Beccar Varela act in new issue of Vista Notes
Bruchou & Funes de Rioja has acted as legal counsel to Vista Energy Argentina (Vista), and Beccar Varela as counsel to the underwriters, in the issuance of the Class XXVI Notes.
The issuance took place on 10 October, where the Class XXVI Notes simple, non-convertible into shares, denominated and payable in cash in US dollars abroad, were integrated in: (i) cash in US dollars abroad, and/or (ii) in kind through the delivery of Class XIV Notes.
The Class XXVI Notes were issued for a nominal value of US$ 150,000,000,000, under the Global Programme for the issuance of short, medium or long term simple negotiable obligations (not convertible into shares) for a maximum amount of up to US$ 1,500,000,000,000 (or its equivalent in other currencies or units of value).
The Class XXVI Notes, which will mature on 10 October 2031, will accrue interest at a fixed nominal annual interest rate equivalent to 7.65%. Interest will be paid semi-annually until the maturity date of the Class XXVI Notes.
The principal of the Class XXVI Notes will be amortised in three consecutive annual instalments starting on the 60th month after the issue and settlement date: (i) the first, equivalent to 33% of the principal; (ii) the second, equivalent to 33% of the principal; and (iii) the third, equivalent to 34% of the principal.
Furthermore, the Class XXVI Notes have been admitted for listing in the Argentine Stock Exchanges and Markets and authorised for trading in the Electronic Open Market. Furthermore, they obtained a rating of ‘AAA (arg)’ with ‘stable outlook’ from FIX on 1 October 2024, and a rating of ‘AAA.ar’ with ‘stable outlook’ from Moody’s on 30 September 2024.
Allaria, Balanz Capital Valores, Banco CMF, Banco Comafi, Banco de Galicia y Buenos Aires, Banco de la Provincia de Buenos Aires, Banco Hipotecario, Banco Mariva, Buenos Aires Valores, Global Valores, Invertir en Bolsa, Latin Securities, Macro Securities, Max Capital, Neix, PP Inversiones, Puente Hnos. and TPCG Valores 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, Sofia Maselli and Branko Serventich.
Beccar Varela’s team was led by partner Luciana Denegri (pictured right), with the participation of Maria Victoria Pavani, María Carolina Pilchik, Martina Puntillo and Carlos Nicolás Saúl Lucero.
