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News & Analysis

Argentina: Cleary Gottlieb Steen & Hamilton LLP; Salaverri, Burgio & Wetzler Malbrán; Davis Polk & Wardwell LLP and Bruchou & Funes de Rioja acted as legal advisors in Pampa Energía’s International Notes Issuance

01 December 2025 by Bruchou & Funes de Rioja - Argentina

On November 14th, 2025, Pampa Energía S.A. (“Pampa”), a leading company in the energy and oil and gas sector, issued, in the local and international markets, its 7.750% senior unsecured notes due 2037, for an aggregate principal amount of US$450,000,000 (the “Notes”), under the U.S.$2,100,000,000 note program for the issuance of convertible and non-convertible (obligaciones negociables). The transaction was carried out in accordance with Rule 144A and Regulation S of the U.S. Securities Act of 1933.
News & Analysis

Argentina: DLA Piper, Bruchou & Funes de Rioja, and Clifford Chance US LLP acted as legal advisors in the successful international issuance of Edenor’s Additional Class 7 Notes

01 December 2025 by Bruchou & Funes de Rioja - Argentina

Empresa Distribuidora y Comercializadora Norte S.A. (Edenor S.A.), Argentina’s largest electricity distribution company, issued Additional Class 7 Notes, denominated and payable in U.S. dollars, bearing interest at a 9.75% annual nominal rate and maturing on October 24, 2030 (the “Additional Notes”), under its global note issuance program for up to US$750 million (or the equivalent in other currencies) approved by the Argentine National Securities Commission.
News & Analysis

Argentina: The City of Buenos Aires successfully completed the international offering of US$600,000,000 7.800% Notes due 2033

01 December 2025 by Bruchou & Funes de Rioja - Argentina

The City of Buenos Aires (the “City”) successfully issued US$600,000,000 7.800% Notes due 2033 (the “Notes”) under its U.S.$2,290,000,000 Medium Term Note Programme. The Notes were issued on November 26, 2025. The Notes will be listed on the Luxembourg Stock Exchange and Bolsas y Mercados Argentinos S.A., and have been admitted for trading in A3 Mercados S.A.
News & Analysis

Argentina: Cleary Gottlieb Steen & Hamilton LLP; Bruchou & Funes de Rioja and Milbank LLP; TCA Tanoira Cassagne acted as advisors in YPF’s International Notes Retap for USD 500 million

12 November 2025 by Bruchou & Funes de Rioja - Argentina

On November 5, 2025 YPF S.A. (“YPF”), the largest Argentine company mainly engaged exploitation of hydrocarbon products and their derivatives in Argentina, issued its fixed annual interest rate senior additional notes due 2031, for an aggregate principal amount of US$500,000,000 under the frequent issuer regime from the Argentine Securities Commission (Comisión Nacional de Valores).
News & Analysis

Argentina: Tecpetrol S.A. successfully completed its offering of US$750,000,000 7.625% senior notes due 2030

11 November 2025 by Bruchou & Funes de Rioja - Argentina

Tecpetrol S.A. (“Tecpetrol”) successfully completed its offering of US$750,000,000 7.625% fixed notes due 2030 (the “Notes”). Tecpetrol is a leading company in the oil and gas industry, with activities that include the exploration, production and development of hydrocarbon fields.
News & Analysis

Argentina: Bruchou & Funes de Rioja and TCA Tanoira Cassagne advised on the financing to PCR and Acindar’s Dedicated Branch granted by ICBC for an amount of up to US$34,892,790 under the “Régimen de Incentivo para Grandes Inversiones (RIGI)”

04 November 2025 by Bruchou & Funes de Rioja - Argentina

Under the “Régimen de Incentivo para Grandes Inversiones (“RIGI”), Bruchou & Funes de Rioja advised Generación Eléctrica Argentina Renovable I S.A. Sucursal Dedicada PEO (the “Borrower”), as borrower, Petroquímica Comodoro Rivadavia S.A. (“PCR”) and Generación Eléctrica Argentina Renovable I S.A. (“GEAR I” and together with PCR, the “Guarantors”), as guarantors, on the structuring of a financing for up to US$34,892,790 (the “Loan”). TCA Tanoira Cassagne advised Industrial and Commercial Bank of China (Argentina) S.A.U. (“ICBC”), as lender.
News & Analysis

Argentina: Cleary Gottlieb Steen & Hamilton LLP; Bruchou & Funes de Rioja and Milbank LLP; TCA Tanoira Cassagne acted as advisors in the granting of a USD 700 million loan to YPF

04 November 2025 by Bruchou & Funes de Rioja - Argentina

Cleary Gottlieb Steen & Hamilton LLP and Bruchou & Funes de Rioja advised YPF S.A. (“YPF”), and Milbank LLP and TCA Tanoira Cassagne advised the joint lead arrangers in a syndicated secured loan agreement for the pre-financing of exports for up to USD 700 million.
News & Analysis

Argentina: Bruchou & Funes de Rioja advised Allaria S.A. on its strategic alliance with Grupo Sancor Seguros to acquire a stake in Banco del Sol

07 March 2025 by Bruchou & Funes de Rioja - Argentina

Bruchou & Funes de Rioja advised Allaria S.A., the leading company in Argentina’s capital markets by business volume and the country’s top Clearing and Settlement Agent (ALyC), on the acquisition of an initial 9.5% stake in Banco del Sol’s share capital. This marks the first step in a strategic alliance between Allaria and Grupo Sancor Seguros, aimed at providing comprehensive financial services to companies across the country.

News & Analysis

Argentina: Top Argentinean Oil Producers launch the Vaca Muerta Sur Oil Pipeline

06 January 2025 by Bruchou & Funes de Rioja - Argentina

Bruchou & Funes de Rioja advised VMOS S.A. (“VMOS”), a special-purpose midstream oil company, whose initial shareholders are YPF, Vista Energy, Pampa Energía and Pan American Energy, in a USD3 billion midstream export-oriented infrastructure project. Additionally, Chevron, Pluspetrol and Shell Argentina executed options to enter the project in the next months.

News & Analysis

Argentina: Metrotel secures a credit line of up to USD 50 million, extendable up to USD 110 million, from IDB Invest, together with Banco Itau, to finance the expansion of its fiber-optic infrastructure in Argentina

20 December 2024 by Bruchou & Funes de Rioja - Argentina

Inter-American Investment Corporation (IDB Invest), with the participation of Banco Itau and other entities, is promoting connectivity and sustainability in Argentina through a financing of up to USD 110 million. The proposed financing consists of secured loans for up to USD 50 million, an uncommitted working capital credit line for up to USD 10 million, and uncommitted parallel loans for up to USD 50 million.
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