Bruchou counsels Vista on exchange and issuance of Notes
Bruchou & Funes de Rioja has counselled Vista Energy Argentina in the exchange of its Class III Notes (issued on 21 February 2020), issuing Class XIV Notes for a nominal value of US $40,510,815.
The issuance of the Class XIV Notes, simple, non-convertible into shares, denominated and payable in US dollars, was made on 10 November under the Global Programme for the issuance of simple short, medium and/or long-term negotiable obligations, non-convertible into shares, for a maximum outstanding amount of up to US $800,000,000.
The Class XIV Notes, maturing on 10 November 2025, will accrue interest at a fixed annual nominal rate equivalent to 6.25%, with 100% of the principal to be repaid in a single payment on the maturity date. They were also fully subscribed through the delivery in exchange of 81.02% of the outstanding Class III Notes.
In addition, the Class XIV Notes were admitted for listing on the Argentine Stock Exchanges and Markets and authorised for trading on the Electronic Open Market. On 1 November, Moody’s Local AR Risk Rating Agent locally rated the Notes as “AA+. ar” with stable outlook, while on the same date they have been rated with the same grade by FIX SCR.
Balanz Capital Valores, Banco BBVA Argentina, Banco de Galicia y Buenos Aires, Banco Itaú Argentina, Itaú Valores, Banco Macro and Macro Securities acted as underwriters under the advice of Beccar Varela.
Florencia Hardoy and Rosario Maffrand acted as in-house counsel to Vista Energy.
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 was led by partner Luciana Denegri (pictured right), with the support of lawyers María Victoria Pavani, Julián Ojeda, María Belén Tschudy and Tomás Cappellini.
