Tanoira Cassagne Abogados advise on the issuance of Series I Class 1 and Class 2 Treasury Notes of the Province of Río Negro.
The Province of Río Negro (the “Province”), has successfully issued the : (i) Series I Class 1 Treasury Notes maturing on May 20, 2022, with a nominal annual variable rate equivalent to the Badlar Rate plus a margin of 8.00%, for a total aggregate amount of AR$ 800,000,000 (“Treasury Notes Series I Class 1”), and (ii) Series I Class 2 Treasury Notes maturing on May 20, 2022, with a nominal annual variable rate equivalent to the Badlar Rate plus a margin of 8.00%, for a total aggregate amount of AR$ 2,899,990,000 (“Treasury Notes Series I Class 2” and jointly “Treasury Notes Series I”), under the Province’s Global Treasury Notes Program for the year 2021, created by Resolution No. 53-E of the Ministry of Economy of the Province dated January 01, 2021, within the total aggregate amount of AR$ 5,000,000,000 or its equivalent in other currencies (the “Program”). The issue date of the Treasury Notes Series I was May 20, 2021.
Treasury Notes Series I were subscribed in cash and / or in kind through the exchange of outstanding Treasury Notes Series II Class 1 and Class 2 of the Province.
Treasury Notes Series I Class 1 secured with the assignment of Federal Tax Co-Participation Regime paid to the Province.
Banco Patagonia S.A. acted as arranger and placement agent. BACS Banco de Crédito y Securitización S.A. and Banco de Servicios and Transacciones S.A. acted as Sub placement agents.
Tanoira Cassagne Abogados participated as deal counsel, through a team led by partners Alexia Rosenthal and Jaime Uranga and associates Juan Sanguinetti, Pilar María Domínguez Pose and Francisco Rojas Andri.