DLA Piper and TRSYM assist in issuance of Santa Fe debt securities
DLA Piper Argentina has advised the Province of Santa Fe, and Tavarone Rovelli Salim & Miani (TRSYM) the underwriters, in a debt securities issuance.
The issue took place on 25 November, where Santa Fe issued ARS $50,000,000,000,000 of debt securities called ‘Bonos de Infraestructura Vial para la Logística de Exportación de la Provincia de Santa Fe’ (Road Infrastructure Bonds for the Export Logistics of the Province of Santa Fe) maturing in 2027. The Debt Securities have a term of 36 months, bear interest at the BADLAR rate plus 6.40% per annum and are secured by Federal Coparticipation funds.
Santa Fe will use the net proceeds to finance road infrastructure projects, including highways, roads and bridges, aimed at strengthening the logistics infrastructure for access to the port area of the Greater Rosario Metropolitan Area, fostering economic development and improving connectivity in the region.
Among the projects to be financed with the proceeds of the issue are the ‘Camino del Mozo’ project, which consists of the construction of new access roads to the port terminals between National Route No. 9 and Provincial Route No. 21; the ‘Camino de la Cremallera’, which provides for the construction of a new access bridge to the port terminals; the ‘Camino de la Cremallera’ project, which provides for the construction of a new access bridge to the port terminals. The project ‘Camino de la Cremería’, which consists of the structural reinforcement of Provincial Route No. 25 to comply with its expected useful life; and the project ‘Tercer Carril Autopista Rosario-Santa Fe’, which involves the construction of an additional lane on the AP01 ‘Brigadier General Estanislao López’ motorway.
Nuevo Banco de Santa Fe acted as arranger and lead placement agent for the transaction. Orson Capital acted as co-arranger, and Mercado Argentino de Valores acted as placement coordinator for MAV Agents. Banco de Servicios y Transacciones, Banco Comafi, Banco de Galicia y Buenos Aires, Banco Patagonia, Banco Santander Argentina, Adcap Securities Argentina, Consultatio Investments, Facimex Valores, Invertir en Bolsa, and Puente Hnos. acted as co-placement agents.
DLA Piper’s team consisted of partner Justo Segura (pictured left) and associates Federico Vieyra and Mariana Carbajo.
TRSYM’s team consisted of partners Marcelo R. Tavarone (pictured centre) and Julieta De Ruggiero (pictured right), and associates Ramiro Catena, Juan Cruz Carenzo and María Clara Pancotto.
