Multiple firms counsel on EDEMSA’s US$150 million note issuance
DLA Piper, Bruchou & Funes de Rioja, and Clifford Chance US advised Empresa Distribuidora de Electricidad de Mendoza (EDEMSA), a leading electricity distribution company in Mendoza, on the international issuance of its Class 6 Senior Step-Up Notes due 2031.
The notes, denominated and payable in U.S. dollars, were issued under EDEMSA’s global issuance program of up to US$400 million (or its equivalent in other currencies), authorized by the Argentine Securities Commission (CNV).
The Class 6 Notes were issued at 92.930% of par, with a total principal amount of US$150 million. The notes bear step-up interest rates of 9.75% per annum until July 28, 2029; 10.75% until July 28, 2030; and 11.75% until their final maturity on July 28, 2031. Principal amortization will be made in three equal installments beginning in 2029.
Under U.S. law, DLA Piper Argentina, through its New York Desk in Buenos Aires, was led by partner Marcelo Etchebarne (pictured left), Nicolás Teijeiro (of counsel), and senior associates Daiana Suk and Ignacio Bard. In New York, partner Josh Kaufman and associate Marcos Taiana also supported the transaction.
DLA Piper Argentina also acted as legal counsel to Edemsa under Argentine law, with a team led by partner Alejandro Noblía, and associates Federico Vieyra and Mariana Carbajo.
Edemsa’s in-house legal team included Andrés Aruani, María Carolina Reta, and Carina Cocuelle.
Clifford Chance US acted as legal advisor to the initial purchasers and the local placement agents under U.S. law, through its team led by partner Hugo F. Triaca (pictured center) and associates David Rondon, Juan Andrés Bosch, and Cristian Ragucci.
Reed Smith acted as legal counsel to the trustee, co-Registrar, principal paying agent, and transfer agent, led by partner Adam Solowsky.
Bruchou & Funes de Rioja acted as legal counsel to the initial purchasers and the local placement agents under Argentine law, through its team led by partner Alejandro Perelsztein (pictured right) and associates Juan María Rosatto and Teo Panich.
