YPF and Pampa snap up thermal plant in another IEASA sell-off

Martínez de Hoz & Rueda has helped Argentine energy companies YPF and Pampa win a public auction to buy a thermal power plant, in a deal worth US$533 million.

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Estudio O’Farrell and Tanoira Cassage behind YPF Luz’s first debt tap

Argentina’s Estudio O’Farrell Abogados has helped a renewables subsidiary of state-owned energy company YPF make its first two debt issuances, worth a combined US$100 million.

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YPF launches venture capital fund for energy innovation

Tanoira Cassagne Abogados has helped Argentine state-owned energy company YPF structure and launch a venture capital fund that focuses on disruptive technologies involving energy and transport.

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Tanoira Cassagne promotes, hires and launches compliance group

Argentina’s Tanoira Cassagne Abogados has promoted a lawyer to partner in its competition practice and hired a lawyer as of counsel to lead its new compliance and anti-corruption group.

Tanoira Cassagne promotes, hires and launches compliance group Francisco Rondoletti & Paula Honisch

The firm announced the promotion of Francisco Rondoletti, 38, and hire of Paula Honisch, 44, on 1 June. Honisch joins from her own boutique, Honisch & Asociados, while Rondoletti had been at Tanoira Cassagne since 2011.

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Tanoira Cassagne advises on debt issuance of Puente Hnos. S.A. and on the authorization of a Global Medium Term Note Program

Tanoira Cassagne Abogados advised Puente Hnos. S.A., as issuer, organizer and placement agent, on the authorization of a Global Medium Term Note Program for an amount up to U$S 150,000,000 and the issuance of the first Class note of U$S20,000,000.

Notes Class 1 are due on June 04th, 2021, and were tendered at 8,00% rate, with interest payable quarterly.

The Notes Class 1 were admitted to listing in Bolsas y Mercados Argentinos S.A. and to be traded in Mercado Abierto Electrónico S.A.

Since 1915 Puente Hnos. S.A. has provided comprehensive value-added services within the financial and capital markets. Puente successfully integrates, complements and synergizes the business of asset management, brokerage and investment banking.

Counsel of the Transaction: Tanoira Cassagne Abogados. Partners Alexia Rosenthal and Jaime Uranga and associates Juan Sanguinetti and Belén Azimonti.

Puente Hnos. S.A. in-house counsel: Tomás González Sabathié.

Pablo Mastromarino fue expositor en CedefLaw

Pablo Mastromarino expuso sobre “Economía Colaborativa y Nuevas Modalidades Contractuales” en el Seminario sobre Relaciones Laborales organizado por CEDEFLaw el pasado 24 de abril.

Four firms convene for Argentine solar financing

White & Case LLP’s Miami office and Argentina’s Martínez de Hoz & Rueda have helped French renewables company Neoen obtain a US$234 million loan for two solar projects.

DEG, The Interact Climate Change Facility, KfW, Proparco and Société Générale turned to Clifford Chance LLP‘s Washington, DC, Frankfurt, London and Paris offices and Argentine firm Bruchou, Fernández Madero & Lombardi.

Reed Smith LLP in London and Argentina’s Tanoira Cassagne Abogados advised Citibank as trustee and collateral agent.

The financing closed on 17 May.

One tranche is covered by a US$76 million guarantee from the World Bank, while another is covered by a buyer credit guarantee from Bpifrance Assurance Export, the first time it has granted one to an Argentine transaction.

Neoen won the Altiplano and La Puna projects, located in the northwest of Argentina, in the country’s RenovAr 1 and RenovAr 2 auctions. They have a combined output of 208 megawatts.

The two projects will sell their output to domestic grid operator Cammesa under a 20-year power purchase agreement.

Counsel to Neoen

In-house counsel – Juan Cristóbal Paris

White & Case LLP

Partners Carlos Viana and Jeannine Acevedo, and associates Ana Arias and Chris Bergan in Miami

Martínez de Hoz & Rueda

Partners Jimena Vega Olmos, Juan Cruz Azzarri and Maximiliano Batista, and associates Sofía Leggiero, Belén Tokatlian and Tomás Dellepiane in Buenos Aires

Counsel to the lenders

In-house counsel to DEG – Astrid Rohr

In-house counsel to KfW – Alejandro Garrido

In-house counsel to Proparco – Javier Zapatero-Campo

In-house counsel to Société Générale – Clémence Jafari

Clifford Chance LLP

Partner Fabricio Longhin, and associates Patricio Abal, Greg Jehle and Pablo Fekete in Washington, DC; partner Christof Häfner and associate Yan Ma in Frankfurt; associates Ed Bretherton, André de Sousa Vieira, William Adams and Da Kyung Kwon in London; and partner Delphine Siino Courtin and counsel Sophie Guilhem-Ducléon in Paris

Bruchou, Fernández Madero & Lombardi

Partner Alejandro Perelsztein and Ignacio Minorini Lima, and associates Andrés Chester, Emilio Díaz Reynolds, Facundo Sainato, Eliana Hougassian, Sofía Arroyo Bajda, Micaela Saieg, Pablo Muir, Cecilia Tononi, Eliana Vinocur and Cecilia Calosso in Buenos Aires

Counsel to Citibanka

In-house counsel – Carlos Vassallo and Cecilia Díaz Llamosas

Reed Smith LLP

Partner Ranajoy Basu and associates Anthony Riddle and Erika Kolb in London

Tanoira Cassagne Abogados

Partner Alexia Rosenthal and associates Ignacio Criado Díaz and Carolina Demarco in Buenos Aires

 

International firms on the rise in LatAm equity markets round up

The number of international law firms involved in Latin America equity capital markets transactions increased significantly in January and February compared to the two previous months, according to Latin Lawyer’s latest research.

There were just five equity capital markets deals submitted to Latin Lawyer over the two-month period. Seven international law firms and eight local outfits helped companies raise US$1.6 billion. This is down from the two last months of 2018, when Latin Lawyer recorded 17 equity offerings, worth US$2.2 billion. Those offerings drew counsel from 15 local firms and only two international players.

Read full news at https://bit.ly/2LVs493

Argentine firms lead Spanish-speaking debt markets round up

Argentine firms have recorded the highest number of debt capital markets deals in January and February, making them the busiest players in Spanish-speaking Latin America for four consecutive months.

Latin Lawyer recorded 31 debt transactions outside Brazil, involving 21 local law firms and nine international outfits in January and February. The deals’combined value was US$10.2 billion.

Read full news at https://bit.ly/2VADq1D

Tanoira Cassagne advises on debt issuance of Catalinas Cooperativa de Crédito, Consumo y Vivienda

Tanoira Cassagne Abogados advised Catalinas Cooperativa de Crédito, Consumo y Vivienda Ltda., as issuer, Max Valores S.A., as organizer and placement agent, and Banco Supervielle S.A., as placement agent on Catalinas Cooperativa de Crédito, Consumo y Vivienda Ltda. issuance of Short Term Notes due 2020 for an amount of $23,097,332.

The Short Term Notes are peso denominated variable rate notes, due on April 2020 and bearing an annual nominal interest of BADLAR rate plus a margin of 12%. The Short Term Notes were issued on April 12, 2019.

Catalinas Cooperativa de Crédito, Consumo y Vivienda Ltda. is a credit cooperative which main activity is the granting of loans to associated companies, mainly small and medium size enterprises, for the financing of their capital
expenditures. The company will apply the net cash proceeds of this offering for capital expenditures.

Counsel of the Transaction: Tanoira Cassagne Abogados. Partners Alexia Rosenthal and Jaime Uranga and associates Juan Sanguinetti and Belén Azimonti.