Neuquén province issues debt for fourth time this year

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Neuquén province issues debt for fourth time this year

Neuquén province issues debt for fourth time this year

Tuesday, 8 September 2015(5 hours ago)by Toby Luckhurst

Cabanellas Etchebarne Kelly has returned to help Argentina’s Neuquén province issue US$60 million in short-term notes.

Banco Provincia del Neuquén acted as principal arranger and placement agent, alongside Banco Macro and Banco de Galicia y Buenos Aires. The banks hired Tanoira Cassagne Abogados for the transaction, which closed on 31 August.

The province issued the notes at a fixed interest rate of 28.5 per cent. They are due on 30 November.

This is the fourth Neuquén province issuance this year in which Cabanellas Etchebarne and Tanoira Cassagne have participated. The province offered US$66 million inJuly, US$45 million inMay, and US$68 million inMarch.

Counsel to Province of Neuquén

Cabanellas Etchebarne Kelly

Partner Marcelo Etchebarne, member Jaime Uranga and associate Nicolás Aberastury

Counsel to Banco Provincia del Neuquén, Banco Macro and Banco de Galicia y Buenos Aires

Tanoira Cassagne Abogados

Partner Alexia Rosenthal and associates Rocío Carrica and Ignacio Nantes