Tanoira Cassagne Abogados has advised the Province of Río Negro in the issuance of the Treasury Bills Series I Class 1, maturing on May 19, 2023, with a nominal annual variable rate equivalent to the Badlar Rate plus a margin of 7.00%, for a total amount of $1. 400,000,000 Argentine pesos; and the Treasury Bills Series I Class 2 maturing on 19 May 2023, with a nominal annual variable rate equivalent to the Badlar Rate plus a margin of 7.00%, for a total amount of $2,394,990,000 Argentine pesos.
The issues were made on 20 May, within the framework of the Treasury Bills Issuance Programme for the year 2022, for an outstanding nominal value of up to $5,000,000,000,000 pesos.
The Series I Treasury Bills were subscribed in cash and/or in kind through the delivery of Series I Class 1 and Class 2 Treasury Bills of the Province issued on 20 May 2021.
In addition, the Treasury Bills Series I Class 1 were guaranteed with funds from the Federal Tax Co-participation Regime.
Banco Patagonia acted as arranger and underwriter, while BACS Banco de Crédito y Securitización, Banco de Servicios y Transacciones, Banco Comafi and Balanz Capital Valores acted as sub-placement agents.
TCA’s team was led by partners Alexia Rosenthal (pictured top left) and Jaime Uranga (pictured top right), with the support of associates Juan Sanguinetti (pictured bottom left), Pilar Domínguez Pose (pictured bottom centre) and Rodrigo Cordoba (pictured bottom right).