DLA Piper and Bruchou help in issuance of Buenos Aires Debt Securities
DLA Piper Argentina has advised the Province of Buenos Aires, and Bruchou & Funes de Rioja the placement agents, in an issuance of floating rate Public Debt Securities maturing in 2026, for a face value of $151,697,875,031.
The Debt Securities were issued on November 5, with a term of 18 months, fully amortizing at maturity and bearing interest payable quarterly at the interest rate resulting from the sum of the BADLAR rate plus a fixed margin of 7% annual nominal amount.
The Province of Buenos Aires will use the net proceeds from the issuance of the Debt Securities to finance the execution of public investment projects, currently under development or expected to be initiated, in provincial infrastructure.
Banco de Galicia y Buenos Aires, Banco de la Provincia de Buenos Aires, Banco Credicoop Cooperativo Limitado, Macro Securities, Puente Hnos, Invertir en Bolsa and Adcap Securities Argentina acted as placement agents.
DLA Piper Argentina’s team was formed by partner Justo Segura (pictured left) and associates Federico Vieyra and Mariana Carbajo.
Bruchou’s team comprised partner Alejandro Perelsztein (pictured right) and associates Juan María Rosatto and Branko Serventich.
