José María Bazán

Bruchou represents Jujuy in Conversion Bond extension

Bruchou & Funes de Rioja has represented the Province of Jujuy in the extension of the issuance of the Public Debt Securities ” Bono de Conversión – Provincia de Jujuy” (conversion bond – Province of Jujuy) maturing on March 15, 2031, for a total amount of AR$ 1,227,874,188 and at a nominal annual variable rate equivalent to the Badlar rate.

The conversion bond was extended to achieve the conversion of the principal of the loan agreement granted by ANSES in favour of Jujuy in 2019, within the framework of National Laws N°27.260 and N°27.574 and National Decree N°458/21.

The repayments are secured by an assignment in guarantee of the Province’s collection rights over the funds or any other payment coming from the Federal Co-participation Tax Regime, or the one that may replace it in the future.

The extension of the Conversion Bond was issued on 17 January 2023 and was requested to be listed and traded on BYMA and MAE, respectively.

Banco Macro acted as arranger, while Macro Securities acted as underwriter. The firm also advised these entities.

Bruchou’s team was led by partner José María Bazán (pictured) and associates Leandro Exequiel Belusci, Manuel Etchevehere and Pedro Azumendi.

Bruchou represents Jujuy in Conversion Bond extension

L Giselle Estrada

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