Bruchou and TCA act in the new issue of Oleoductos del Valle
Bruchou & Funes de Rioja advised Oleoductos de Valle and Tanoira Cassagne Abogados advised the underwriters, in the placement of the Class 4 Notes for a nominal value of US$75,000,000, with a 106.01% cut-off price, issued on June 14, 2024, at a fixed rate of 3%, maturing on June 14, 2026.
The proceeds of the placement will be used mostly to partially finance infrastructure works, mainly related to the Duplicar Project, which consists of a project to expand Oldelval’s transport capacity that includes: (i) the laying of approximately 525 km of pipes along Rio Negro, La Pampa and Buenos Aires; (ii) the repowering of pumping stations; and (iii) the replacement of pipelines in the Bahía Blanca area. This will allow, once completed, to increase the country’s oil exports by approximately 180,000 to 250,000 barrels/day.
Macro Securities acted as arranger and underwriter; while Banco de Galicia y Buenos Aires, Industrial and Commercial Bank of China (Argentina), Banco Comafi and Max Capital acted as underwriters.
Bruchou’s team comprised partner José María Bazán (pictured left) and associates Leandro Belusci, Quimey Lia Waisten and Melina Signorello.
TCA’s team included partners Alexia Rosenthal (pictured centre, left), Jaime Uranga (pictured centre, right) and Ignacio Criado Díaz (pictured right) and associates Juan Manuel Simó, Carolina Mercero and Ana Miranda.
