Salaverri acts in international exchange of AES
Salaverri Burgio & Wetzler Malbrán has acted as advisor to the dealer managers and underwriters in the international exchange of AES Argentina Generación (AES) for holders of class A notes issued by AES for a nominal value of US $300,000,000 maturing on February 2, 2024.
The Existing Negotiable Obligations were exchanged for (i) new class 2 negotiable obligations issued by AES at a fixed interest rate equal to 9.50% nominal annual amount for a nominal value of US$121,990,601 maturing on 30 August 2027, guaranteed by Energética Argentina S.A. and Vientos Neuquinos S.A. and Vientos Neuquinos S.A. as subsidiary guarantors and (ii) for cash consideration, in accordance with the terms and conditions set forth in the prospectus supplement and exchange offer and Exchange Offering Memorandum, both dated 13 July 2023 (as subsequently amended).
Bruchou & Funes de Rioja advised AES Argentina locally, while Davis Polk & Wardwell advised AES under New York law. Linklaters also advised the dealer managers in New York.
Citigroup Global Markets, HSBC Securities (USA), J.P. Morgan Securities and Santander US Capital Markets acted as dealer managers; and Banco Itaú Argentina, Itaú Valores, Industrial and Commercial Bank of China (Argentina) and Banco Santander Argentina acted as local underwriters.
Ivan Duronto, Florencia Frega and Paula Capparell acted as in-house counsels to AES.
Bruchou’s team included partner José Bazan and associates Ramon Augusto Poliche, Josefina Mortola Saiach and Facundo Suarez Loñ.
Davis Polk’s team comprised partner Maurice Blanco, counsel Katia Brener, law clerk Agustin Lopez Roualdes and former law clerk Jaime Begara Bretón.
Linklaters’ team was made up by Conrado Tenaglia and Matthew Poulter and associates Juan Mata and Mario Lercari.
Salaverri’s team was led by partner Roberto Lizondo (pictured), assisted by associates Josefina María Ryberg, Delfina Meccia, Camila Mindlin, Carolina Colombo and Jorge Chiro Tarrab.
