DLA Piper advises on Treasury Bills issue by Río Negro
DLA Piper Argentina has advised on the issuance of Treasury Bills Series I of the Province of Río Negro, maturing on December 19, 2025, for an amount of AR$11,000,000,000,000.
The issuance was made within the framework of the Treasury Bills Issuance Program for the year 2024. The Notes will accrue quarterly interest at an annual nominal floating rate equivalent to the Badlar Rate plus a margin of 7.00%. In addition, the Notes are secured with funds from the Federal Tax Co-participation Regime.
Banco Patagonia acted as arranger and principal underwriter of the issue. Banco Hipotecario, Banco de Servicios y Transacciones, Banco Comafi, Puente Hnos, Adcap Securities Argentina and BACS Banco de Crédito y Securitización acted as sub-placement agents.
DLA Piper Argentina acted as deal counsel, assisting both the province and the underwriters through a team formed by partner Justo Segura (pictured) and associates Federico Vieyra and Mariana Carbajo.
