Bruchou & Funes de Rioja has advised Vista Energy Argentina, and Beccar Varela the underwriters, in the issuance of Class XXI Notes – simple, non-convertible into shares, denominated in US dollars, to be integrated in Pesos at the Initial Exchange Rate and payable in Pesos at the Applicable Exchange Rate -, for a nominal value of US $70,000,000.
The issuance was made on 11 August 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 $800,000,000 (or its equivalent in other currencies or units of value). The Class XXI Notes, which will mature on 11 August 2028, will bear interest at a fixed rate of 0.99% nominal per annum, and will repay 100% of the principal in a single payment on their maturity date.
In addition, the Class XXI Notes have been admitted for listing on the Argentine Stock Exchange and Markets and authorised for trading on the Electronic Open Market. On 4 August 2023, Moody’s Local AR Risk Rating Agent and FIX SCR Risk Rating Agent (Fitch Ratings Affiliate) rated the Notes as “AAA.ar” and “AAA(arg)”, respectively, with a “stable” outlook.
Allaria, 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 Hipotecario, Banco Itaú Argentina, Banco Mariva, Facimex Valores, Invertir en Bolsa, Itaú Valores, Macro Securities, Max Capital and SBS Trading acted as underwriters.
Florencia Hardoy and Rosario Maffrand acted as in-house lawyers for Vista Energy.
Bruchou’s team was led by José María Bazán (pictured left), with the participation of Ramón Augusto Poliche, Josefina Mortola Saiach and Branko Serventich.
Beccar Varela’s team included Luciana Denegri (pictured right), María Victoria Pavani and María Belén Tschudy.