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UncategorizedBruchou advise on the issuance of the Province of Neuquén first Treasury Bills with adjustable capital by CER

July 30, 2021

The Province of Neuquén (the “Province”), has successfully issued on July 28, 2021 its Series IV Treasury Bills under the Province’s Global Treasury Bills “Programa de Financiamiento del Tesoro Provincial para el año 2021”, within the aggregate amount of AR$7,000 million or its equivalent in other currencies (the “Program”).

It was the first Argentinean issuance with capital adjustable with the variation of the Reference Stabilization Coefficient (CER) after the enactment on July 7, 2021, of the Fiscal Consensus Law No. 27,634.

Additionally, it was the first issuance in the Argentinean capital market of securities denominated and payable in Pesos, adjustable on an equivalent amount in dollars.

The total amount issued for Series IV was AR$ 4,622.7 million divided into 3 classes maturing amid February 2022 and July 2023.

The Treasury Bills Series IV are secured with resources under the Federal Tax Co-Participation Regime paid to the Province.

Banco Provincia del Neuquén S.A. acted as principal arranger and placement agent; Banco de Galicia y Buenos Aires S.A.U. and Banco Macro S.A. acted as co-arrangers; AdCap Securities Argentina S.A., Balanz Capital Valores S.A.U., Banco de Galicia y Buenos Aires S.A.U., Banco de Servicios y Transacciones S.A., Banco Patagonia S.A., Compañía Financiera Argentina S.A. and Macro Securities S.A. acted as co-placement agents.

Legal advisors of the co-arrangers and co-placement agents:

Bruchou, Fernández Madero & Lombardi

Socio Perelsztein, Alejandro y asociados Ragucci, Cristian y Etchevehere, Manuel.

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