DLA Piper has assisted the Province of Buenos Aires, as issuer, while Bruchou has assisted the underwriters, in the issuance of floating rate public debt securities, maturing on 16 May 2024, for a total nominal value of $16,423,783,860 Argentine pesos.
Adcap Securities Argentina, Balanz Capital Valores, Banco de la Provincia de Buenos Aires, Banco Mariva and Banco Santander Argentina acted as underwriters.
The Debt Securities were issued for a term of 24 months and bear interest payable quarterly at the interest rate resulting from the sum of the BADLAR rate plus a fixed margin of 6.50% nominal per annum.
The transaction included the possibility of integrating the Debt Securities in Pesos or in kind through the delivery of a bond and/or certain Treasury Bills issued by the province. In-kind Debt Securities were awarded for a nominal value of $ 7,873,603,360.
DLA Piper Argentina’s team included partner Justo Segura and associates Marcos Taiana and Federico Vieyra.
Bruchou’s team comprised partner Alejandro Perelsztein (pictured) and associates Leandro Exequiel Belusci, Manuel Etchevehere and Delfina Calderale.