Bruchou and Beccar Varela counsel on Vista Notes issues
Bruchou & Funes De Rioja has counselled Vista Energy Argentina (Vista), and Beccar Varela the underwriters and arrangers, in the issuance of Class XVIII and Class XIX Notes, both denominated in US Dollars, denominated and payable in Pesos.
Class XVIII was placed for US$118,542,307 and Class XIX for US$16,457,693, totalling US$135,000,000. The Notes were issued on 3 March under the Global Debenture Programme for the issuance of short, medium and/or long term, non-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 XVIII will be non-interest bearing and will repay 100% of the principal on the maturity date, 3 March 2027. Class XIX will bear interest at a nominal rate of 1% per annum and will repay 100% of the principal on maturity on 3 March 2028.
The Notes were admitted for listing on the Argentine Stock Exchanges and Markets and authorised for trading on the Electronic Open Market. On 27 February, Moody’s Local AR Risk Rating Agent rated the Notes as “AAA.ar”.
For both classes, the underwriters were Allaria Ledesma & Cía. BACS Banco de Crédito y Securitización; Balanz Capital Valores; Banco BBVA Argentina; Banco Comafi; Banco de Galicia y Buenos Aires; Banco de la Provincia de Buenos Aires; Banco de Servicios y Transacciones; Banco Hipotecario; Banco Itaú Argentina; Banco Macro; Banco Patagonia; Facimex Valores; Global Valores; Industrial and Commercial Bank of China (Argentina); Industrial Valores; Invertir en Bolsa; Itaú Valores; Macro Securities; Max Capital; PP Inversiones; Puente Hnos; and SBS Trading. Banco Macro, Banco de Galicia y Buenos Aires, Banco Itaú Argentina and Banco BBVA Argentina acted as organisers.
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 Mortola Saiach and Branko Serventich.
Beccar Varela’s team included partner Luciana Denegri (pictured right), and lawyers María Inés Cappelletti and Julián Ojeda.
