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2022New DealWe advised on the issuance of secured Treasury Notes of the Province of Neuquén with an oversubscription of more than 50%

April 13, 2022

Tanoira Cassagne Abogados and Bruchou, Fernández Madero & Lombardi advise on the issuance of secured Treasury Notes of the Province of Neuquén and achieved an oversubscription of more than 50%.

On April 12, the Province of Neuquén (the “Province”), has successfully issued the Series I Class I, Trenches A and B of Treasury Notes maturing on October 11, 2022, for the Trench A and April 7, 2023, for the Trench B as part of its financing programme for the year 2022 (the “Treasury Notes”).

The Treasury Notes were issued for a total aggregate amount of AR$6,000,000,000,000, with a nominal annual variable rate equivalent to the Badlar rate plus a margin of 5,00% for the Trench A and 7,00% for the Trench B.

The Treasury Notes were oversubscribed by more than 50% of the required amount, receiving investment offers for a total of AR$9,309 million.

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

Tanoira Cassagne Abogados advised the issuer, through a team led by partners Alexia Rosenthal and Jaime Uranga and associates Juan Sanguinetti, Pilar Domínguez Pose and Rodrigo Cordoba.

Bruchou, Fernández Madero & Lombardi advised the co-arrangers and co-placement agents, through partner Alejandro Perelsztein and associates Leandro E. Belusci, Manuel Etchevehere and Sebastian Pereyra Pagiari.

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