TCA (Tanoira Cassagne) advised on the issuance of Treasury Notes by the Province of Río Negro.

News

TCA (Tanoira Cassagne) advised on the issuance of Treasury Notes by the Province of Río Negro.

PR RN 2022

The Province of Río Negro (the “Province”), has successfully issue : (i) Series I Class 1 Treasury Notes maturing on May 19, 2023, with a nominal annual variable rate equivalent to the Badlar Rate plus a margin of 7.00%, for a total aggregate amount of AR$ 1,400,000,000 (“Treasury Notes Series I Class 1”), and (ii) Series I Class 2 Treasury Notes maturing on May 19, 2023, with a nominal annual variable rate equivalent to the Badlar Rate plus a margin of 7.00%, for a total aggregate amount of AR$ 2,394,990,000 (“Treasury Notes Series I Class 2” and jointly “Treasury Notes Series I”), under the Province’s Global Treasury Notes Program for the year 2022, 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, 2022.

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 issued on 20 May 2021.

Treasury Notes Series I Class 1 were 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., Banco de Servicios y Transacciones S.A., Banco Comafi S.A. and Balanz Capital Valores S.A.U. acted as Sub placement agents.

TCA (Tanoira Cassagne Abogados) participated as deal counsel, through a team led by partners Alexia Rosenthal and Jaime Uranga and associates Juan Sanguinetti, Pilar Domínguez Pose and Francisco Rodrigo Cordoba.