TCA assists in the issuance of Río Negro Treasury Bills
Tanoira Cassagne Abogados has assisted the Province of Río Negro in the issuance of the Treasury Bills Series II Class 1 and Class 2, under the Treasury Bills Issuance Programme for the year 2023, for an outstanding nominal value of up to AR$ 12,000,000,000,000,000, or its equivalent in other currencies.
The issue was made on May 19, where the Treasury Bills Series II Class 1 will mature on May 17, 2024, with a nominal annual variable rate equivalent to the Badlar Rate plus a margin of 12.00%, for a total amount of AR$ 2,000,000,000,000; and the Treasury Bills Series II Class 2 will mature on May 17, 2024, with a nominal annual variable rate equivalent to the Badlar Rate plus a margin of 12.00%, for a total amount of AR$ 1,439,986,680.
The Series II Class 1 Treasury Bills were guaranteed with funds from the Federal Tax Co-participation Regime.
Banco Patagonia acted as arranger and underwriter, while Banco de Servicios y Transacciones, Banco Comafi, Puente Hnos and BACS Banco de Crédito y Securitización acted as sub-underwriters.
TCA’s team was led by partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured right), with support from associates Juan Sanguinetti, Teófilo Trusso, Juan Manuel Simó and Ana Lucía Miranda.
