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2021New DealBruchou advised on the successful restructuring of the Province of La Rioja’s US$300 million outstanding notes

September 30, 2021
Bruchou, Fernandez Madero & Lombardi acted as advisor to the Province of La Rioja in the restructuring of US$300 million principal amount of outstanding 9.750% Notes due 2025 issued in the international capital markets.

The restructuring was executed through a consent solicitation and involved negotiations with holders’ representatives and their advisors.

The Province received consents from holders representing 98.61% of the outstanding principal amount of the Notes, to certain proposed amendments to the terms of the Notes. Reaching the highest acceptance rate for sovereign restructurings.

As a result of the successful Consent Solicitation, the indenture governing the Notes was amended to extend the Notes’ maturity date, modify the interest rate and the amortization schedule of the Notes, among other amendments.

Legal advisors of La Rioja:
Bruchou, Fernández Madero & Lombardi

Partner Bruzone, Hugo N. L., and associates Belusci, Leandro Exequiel, Dorado, Lucila and Calderale, Delfina.

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