The Province of Río Negro (the “Province”), has successfully issued short-term notes “BONO RÍO NEGRO” due on July 6, 2021 and accruing a floating interest rate equal to the Badlar rate plus a 7,00% margin, for an aggregate amount of AR$ 1,554,333,313 (the “Notes”), under the Province’s Program “Programa de Cancelación de Obligaciones del Sector Público Provincial”. Payments due under the Notes will be guaranteed by an assignment of the Province´s rights over the funds or any other payment under the Federal Tax Co-Participation Regime, or the one replacing it in the future. The issuance date of the Short-term Notes was on July 6, 2020.
Banco Patagonia S.A. acted as principal arranger and placement agent, TPCG Valores S.A.U. acted as arranger and Banco de Galicia y Buenos Aires S.A.U., Banco de Servicios y Transacciones S.A., Allaria Ledesma & Cía. S.A., AdCap Securities Argentina S.A. and Compañía Financiera Argentina S.A. acted as sub- placement agents.
Tanoira Cassagne Abogados advised the issuer, through a team led by partners Alexia Rosenthal and Jaime Uranga and associates Ignacio Criado Díaz, Lucía Farrando and Carolina Demarco.
Bruchou, Fernández Madero & Lombardi advised the co-arrangers and co-placement agents, through partner Alejandro Perelsztein and associates Andrés Chester, Emilio Díaz Reynolds and Lucila Dorado.