Cerolini & Ferrari assists Latitud new issue of Notes
Cerolini & Ferrari Abogados has assisted Latitud 45 Petróleo y Gas (Latitud) in its second issue of negotiable notes under the Régimen PyME CNV Garantizada for a nominal value of USD $3,500,000.
The issue was made on 10 December, where Series II Class I Notes were issued for a nominal value of $2,722,777,777 pesos, maturing in December 2026, at a variable rate with a cut-off margin of 8.50%; and Series II Class III Notes were issued for a nominal value of UVAs 646,564 maturing in December 2026 at a fixed annual nominal rate of 8.19%.
The offering was aimed at the local market and the Notes have been authorised for listing on Bolsas y Mercados Argentinos (ByMA), and for listing and trading on the Mercado Abierto Electrónico (MAE).
Banco de Servicios y Transacciones, Banco Mariva and Banco Supervielle acted as arrangers and underwriters of the issue. Banco de Servicios y Transacciones, Banco Mariva, Banco Supervielle and Fid Aval acted as underwriters.
Latitud is a company dedicated to the provision of pumping services (cementing, stimulation and coiled tubing) for drilling, completion, workover and abandonment of wells in conventional and unconventional oil and gas fields. It was founded in 2013 by executives with more than 20 years of experience in the Oil & Gas industry and its client portfolio includes the main oil and gas field operating companies in Argentina.
Ana Vea Murguia and Melina Lozano acted as in-house counsel to BST; while María Eugenia Ataefe and Pablo Augusto Antao advised Banco Mariva in-house.
Cerolini & Ferrari’s team was led by partner Agustín L. Cerolini (pictured), with the support of associates Martín Chindamo and Valentina Circolone.
