TCA and Bruchou advise on issuance of Treasury Bills of the Province of Neuquén
Tanoira Cassagne Abogados has advised the Province of Neuquén on its issuance of Treasury Bills Series IV for a total amount of $10,000,000,000,000 Argentine pesos. Bruchou & Funes de Rioja advised the co-organisers and co-planners.
The transaction included the issuance of Treasury Bills Series IV Class 1 maturing on September 6, 2023 for an amount of AR $939,665,603 at a variable Badlar rate plus a margin of 7.00% and guaranteed with resources provided by the Federal Coparticipation of Taxes; Class 2 Tranche A maturing on March 6, 2024 for an amount of US $22,704,315 at a fixed annual nominal interest rate of 3.96% and guaranteed with resources provided by the Federal Coparticipation of Taxes; and Class 2 Tranche B with maturity on March 6, 2025 for v/n of US $42,612,669 at a fixed nominal annual interest rate of 5.49% and guaranteed with resources from the rights of the Province for up to a determined percentage of Oil Royalties.
Banco Provincia del Neuquén acted as arranger, lead arranger and calculation agent; Banco de Galicia y Buenos Aires and Banco Macro acted as co-arrangers; and Banco de Galicia y Buenos Aires, Macro Securities, Adcap Securities Argentina, Banco Patagonia, Balanz Capital Valores, Banco de Servicios y Transacciones, Compañía Financiera Argentina, Banco Comafi and TPCG Valores acted as co-placement agents.
TCA’s team was led by partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured centre), with support from associates Juan Sanguinetti, Pilar Domínguez Pose and Juan Manuel Simó.
Bruchou’s team included partner Alejandro Perelsztein (pictured right) and associates Leandro E. Belusci, Manuel Etchevehere and Sebastian Pereyra Pagiari.
