Cleary represents BCRA in repurchase agreements
Cleary Gottlieb has represented Banco Central de la República Argentina (BCRA), in connection with the negotiation and execution of bilateral repurchase agreements with five international banks for US$1 billion.
The transactions were signed on December 30, 2024 and closed on January 3, 2025. The underlying assets of the transactions are newly issued BOPREAL Series 1-D bonds issued by the BCRA. The transactions mature in April 2027.
These transactions, with instruments issued by the BCRA as underlying assets, constitute a cost-efficient mechanism to improve the BCRA’s international reserves and liquidity.
Cleary’s team included partner Juan Giráldez (pictured) and associates Ignacio Lagos and Pedro Arango Montes. Partner Matthew Brigham and associates Victoria Ju and Kathy Zhang advised on tax matters. Juan Giráldez and Pedro Arango Montes are based in Sao Paulo, and all other lawyers are based in New York.