Tanoira Cassagne Abogados has assisted the Province of Neuquén, and Bruchou & Funes de Rioja the co-arrangers and co-placement, in the issuance of secured Treasury Bills Series IV of the Province of Neuquén, as well as in the issuance of secured Treasury Bills Series I denominated and payable in US Dollars.
Both issues were made on October 19, where the Treasury Bills Series IV Class 2, denominated in US Dollars and payable in Pesos (Dollar Linked) with maturity on October 19, 2025 were issued for an amount of U$S 18,570.102 at an interest rate of 0%. 102 at an interest rate of 0% and guaranteed with resources from the Federal Coparticipation of Taxes; within the framework of the Provincial Treasury Financing Program for the year 2023; and the Treasury Bills Series I Class 1, denominated and payable in US Dollars (Dollar Hard), maturing on April 19, 2026 were issued for an amount of U$S 99,310,474 at an annual nominal fixed rate of 9.45%; within the framework of the Financing Program Law 3,389.
The Treasury Bills Series I Class 1 are secured by the fiduciary assignment of resources coming from the rights of the Province for up to a certain percentage of Oil Royalties, according to the trust agreement entered into between the Province, as issuer and trustee, and Banco Comafi, as trustee.
Banco Provincia del Neuquén acted as arranger, lead arranger and calculation agent; Banco de Galicia y Buenos Aires and Macro Securities acted as co-arrangers and co-placement agents; and Adcap Securities Argentina, Banco Patagonia, Balanz Capital Valores, Banco de Servicios y Transacciones, Banco Comafi, TPCG Valores and Cocos Capital acted as co-placement agents.
TCA’s team included partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured centre) and associates Juan Sanguinetti, Juan Manuel Simó, Teófilo Trusso and Ana Lucía Miranda.
Bruchou’s team was led by partner Alejandro Perelsztein (pictured right), with support from associates Leandro E. Belusci, Manuel Etchevehere and Branko Serventich.