Bruchou & Funes de Rioja and TCA Tanoira Cassagne acts on Pluspetrol’s issuance
Bruchou & Funes de Rioja and TCA Tanoira Cassagne have advised on Pluspetrol’ s entry into the public offering regime and its subsequent issuance of US$197 million in notes. Bruchou & Funes de Rioja counseled Pluspetrol on its entry into the Argentine Securities and Exchange Commission’s (CNV) Public Offering Regime and the creation of a US$1 billion global notes program.
TCA Tanoira Cassagne represented the arrangers and underwriters in the successful issuance of two classes of notes. The Class 1 Notes, amounting to US$74,164,370, carry a 6.00% fixed rate and mature on January 27, 2028. The Class 2 Notes, totaling US$123,020,337, bear a 7.50% fixed rate and mature on January 27, 2030.
The notes were listed on the Mercado Abierto Electrónico (MAE) and Bolsas y Mercados Argentinos (BYMA), receiving an AAA(Arg) rating with a stable outlook from FIX SCR Risk Rating Agent.
Pluspetrol, known for its expertise in unconventional reservoirs and high-pressure gas fields, is making significant investments in Argentina, particularly in the Vaca Muerta formation, one of the world’s largest unconventional hydrocarbon reservoirs.
Bruchou & Funes de Rioja’s team advising Pluspetrol was led by partner José María Bazán (pictured left), supported by associates Leandro Belusci, Sofía Maselli, and Branko Serventich.
TCA Tanoira Cassagne’s team advising the arrangers and underwriters included partners Alexia Rosenthal (pictured center left), Jaime Uranga (pictured center), Rocio Carrica (pictured center right), and Ignacio Criado Díaz (pictured right), along with associates Carolina Mercero, Teófilo Jorge Trusso, Stefania Lo Valvo, and Florencia Ramos Frean.
