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2022New DealBruchou advised on the issuance of secured Debt Security of the Province of Misiones

March 21, 2022

The Province of Misiones (the “Province”) has successfully issued the Public Debt Security “Conversion Bond – Province of Misiones” maturing on March 15, 2031, for a total aggregate amount of AR$ 2,435,938,453 and at a nominal annual variable rate equivalent to the Badlar rate.

The Conversion Bond was issued to achieve the conversion of the capital of the loan agreements granted by ANSES in favor of the province in 2016, 2017 and 2018, within the framework of National Laws N°27,260 and N°27,574 and National Decree N°458/21.

The payments are secured by an assignment in guarantee of the province’s collection rights over the funds or any other payment coming from the Federal Co-participation Tax Regime, or the one that may replace it in the future.

The Conversion Bond was issued on March 15, 2022, and requested to be listed and traded on BYMA S.A. and MAE S.A., respectively.

Banco Macro S.A. acted as arranger and Macro Securities S.A. acted as placement agent.

 Bruchou, Fernández Madero & Lombardi advised the arrangers and placement agents, through partner José María Bazán and associates Leandro E. Belusci, and Manuel Rodríguez Costi.

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Ing. Enrique Butty 275, Piso 12. C1001AFA, Buenos Aires, Argentina.
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