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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.
News & Analysis

Argentina: MSU Energy S.A. makes Exchange Offer and new offering of Senior Secured Notes for US$ 400,000,000

20 December 2024 by Bruchou & Funes de Rioja - Argentina

Tavarone, Rovelli, Salim & Miani advised MSU Energy S.A. (“MSU Energy”) on the issuance of its 9.750% Senior Secured Notes due 2030 for an aggregate principal amount of US$400,000,000, where MSU Energy acted as issuer (the “Issuer”).
News & Analysis

Argentina: Bruchou & Funes de Rioja, Cleary, Salaverri and Linklaters advised on the inaugural international issue of Vista Energy Argentina S.A.U. in the capital markets

10 December 2024 by Bruchou & Funes de Rioja - Argentina

On December 10, 2024, Vista Energy Argentina S.A.U. (“Vista”) issued, in the local and international markets, its 7.625% senior secured notes due 2035, for an aggregate principal amount of US$600,000,000 (the “Notes”), pursuant to its US$3,000,000,000 note program for the issuance of short, medium, or long-term simple non-convertible notes, approved by the Argentine Securities Commission (Comisión Nacional de Valores).
News & Analysis

Argentina: Grupo Albanesi successfully concludes an Exchange Offer and Consent Solicitation an a new International issuance of Senior secured Notes for US$ 353,963,822

28 November 2024 by Bruchou & Funes de Rioja - Argentina

Tavarone, Rovelli, Salim & Miani advised Grupo Albanesi on the issuance of its Class XXXIX Notes for an aggregate principal amount of US$353,963,822, where Generación Mediterránea S.A. (“GEMSA”) and Central Térmica Roca S.A. (“CTR,” and together, the “Issuers”) acted as issuers, and Albanesi Energía S.A. (“AESA”) acted as guarantor. Bruchou & Funes de Rioja advised the international and local dealer managers and placement agents.
News & Analysis

Argentina: FMO, FINDEV and PROPARCO granted financing to Genneia S.A. for up to US$ 100,000,000 for the development and construction of two solar farms in the Province of Mendoza, Argentina

21 November 2024 by Bruchou & Funes de Rioja - Argentina

Nederlandse Financierings - Maatschappij voor Ontwikkelingslanden N.V. ("FMO"), Development Finance Institute Canada (DFIC) Inc. ("FINDEV") and Société de Promotion et de Participation pour la Coopération Économique S.A. (“PROPARCO”) granted financing to Genneia S.A. (“Genneia”), leading Argentine company specialized in providing sustainable energy solutions, for up to US$ 100,000,000 from for the development and construction of two solar farms located in Malargüe and Luján de Cuyo, Province of Mendoza, Argentina, with a total output of 270 MW of combined generation capacity (the “Secured Loan”).
News & Analysis

Argentina: TCA Tanoira Cassagne and Bruchou & Funes de Rioja advised in the first Notes issuance of a mining company in the Argentine capital market

21 November 2024 by Bruchou & Funes de Rioja - Argentina

TCA Tanoira Cassagne (“TCA”) advised Minera Exar S.A., and Bruchou & Funes de Rioja advised Banco Santander Argentina S.A., Industrial and Commercial Bank of China (Argentina) S.A.U., Banco de Galicia y Buenos Aires S.A.U., Banco BBVA Argentina S.A., Macro Securities S.A.U., Banco Mariva S.A., Banco Supervielle S.A., Balanz Capital Valores S.A.U., Puente Hnos S.A., Allaria S.A., Invertironline S.A.U., TPCG Valores S.A.U., Global Valores S.A., Max Capital S.A., Neix S.A., Banco Comafi S.A. and Cohen S.A. as placement agents, in the issuance of Series I Notes for a nominal amount of US$50,000,000, at a 8.00% rate denominated and payable in US Dollars in Argentina, maturing on November 11th, 2027.
News & Analysis

Argentina: DLA Piper, Bruchou & Funes de Rioja, and Clifford Chance US LLP advised on Edenor's successful international issuance of new 9.75% Senior Notes due 2030 and its offer to exchange any and all of its outstanding 9.75% Senior Notes due 2025.

13 November 2024 by Bruchou & Funes de Rioja - Argentina

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

Argentina: Bruchou & Funes de Rioja advised Landmark Developments S.A. and TMF Trust Company (Argentina) S.A. in the successful opening issuance of trust securities under the "Udaondo Buenos Aires" Financial Real Estate Trust for up to US$ 600,000,000 (or its equivalent in other currencies or units of value) (the “Trust”)

17 October 2024 by Bruchou & Funes de Rioja - Argentina

Bruchou & Funes de Rioja acted as deal counsel on the recent opening issuance and placement in Argentina of fixed nominal annual 1.95% interest rate trust securities for an aggregate amount of US$7,300,000 (the “Securities”) under the Trust.
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