Compañía General de Combustibles S.A. ("CGC”) successfully completed the international and local offering of its Class 38 notes for a nominal amount of US$300,000,000, denominated and payable in U.S. dollars, bearing a fixed annual interest rate of 11.875% and maturing in November 2030 (the “Notes”).
CGC is a leading company in the oil and gas industry, with activities that include the exploration, production, and development of hydrocarbon fields.
The Notes were issued on November 28, 2025 and placed in the international market pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933. The proceeds from the placement of the Notes will be used for the payment or refinancing of existing financial indebtedness.
Citigroup Global Markets Inc., JP Morgan Securities, Morgan Stanley & Co. LLC, Santander US Capital Markets LLC and Balanz Capital UK LLP acted as joint global coordinators and joint bookrunners (the “Joint Global Coordinators and Joint Bookrunners”), BCP Securities Inc. and Latin Securities Inc acted as international co-managers (the “International Co-Managers”) and Banco Santander Argentina S.A., Industrial and Commercial Bank of China (Argentina) S.A.U., Macro Securities S.A.U., Balanz Capital y Valores S.A.U. and Latin Securities S.A. acted as Argentine placement agents (the “Argentine Placement Agents”). Therefore, Citigroup Global Markets Inc. acted as global settlement agent (the “Global Settlement Agent”) and Latin Securities S.A. acted as Argentine settlement agent (the “Argentine Settlement Agent”). The Bank of New York Mellon will act as trustee ("indenture trustee”), registrar, transfer agent, and paying agent under the indenture ("indenture”), and Banco Santander Argentina S.A. as trustee, registrar, transfer agent, paying agent and the representative of the Trustee in Argentina.
The Notes were listed on the Bolsas y Mercados Argentinos S.A. and admitted for trading in A3 Mercados S.A.
Counsel to CGC:
Regarding the laws of New York, United States:
Milbank LLP: Partners: Adam Brenneman. Special Counsel: Gonzalo Guitart. Associates: Marcos Zaldivar and Pamela Molina. International Attorney: Hugo Bruzone.
Regarding the laws of the Argentine Republic:
Bomchil: Partners: Fermín Caride and María Victoria Tuculet. Associates: Francisco Diskin, Tomas Celerier and Camila Belén González Lima. Paralegal: Lourdes María Aguirre.
Counsel to the Advisors to the International Initial Purchasers, International Co-Managers, Argentine Placement Agents, and Global Settlement Agent:
Regarding the laws of New York, United States:
Davis Polk & Wardwell: Partner: Maurice Blanco. Counsel: Drew Glover. Associates: José Miguel Fernández. Foreign Temporary Associate: Carlos Rios Armillas.
Regarding the laws of the Argentine Republic:
Bruchou & Funes de Rioja: Partners: José Bazán and Leandro E. Belusci. Associates: Quimey Lía Waisten, Victoria Negro and Manuel Vergez Dinatale.
