Province of Buenos Aires’ €500 Million Debt Offering

Cleary Gottlieb Steen & Hamilton, Cabanellas, Etchebarne & Kelly, Shearman & Sterling and Bruchou, Fernández Madero & Lombardi advised on the transaction

The Province issued €500 million aggregate principal amount of its 5.375 percent notes due 2023 in reliance on Rule 144A/Reg S. The offering of the notes, for which Deutsche Bank, HSBC and Santander served as joint bookrunners and Banco de la Provincia de Buenos Aires acted as local co-manager, priced on July 13, 2017, and closed on July 20, 2017.

The notes are expected to be listed on the Luxembourg Stock Exchange and admitted to trade on the Euro MTF market of the exchange, and also listed on the Bolsas y Mercados Argentinos S.A. and the Mercado Abierto Electrónico S.A.

Cleary Gottlieb Steen & Hamilton LLP advised the Province of Buenos Aires with Juan Giráldez (Picture), Juan Ignacio Mollis, Mariano Sierra, Rachel Shapiro and Eloise Skinner.

Cabanellas, Etchebarne & Kelly advised the Province of Buenos Aires with a team including Marcelo Etchebarne, Justo Segura, Federico Machado and Francisco García Medan.

Shearman & Sterling advised Deutsche Bank, HSBC and Santander with Antonia Stolper, Alejandro Gordano, Jeffrey Tate, Adam Sternberg, Aysuria Chang and María Constanza Martella.

Bruchou, Fernández Madero & Lombardi advised Deutsche Bank, HSBC and Santander with Alejandro Perelsztein, Agustín Bauer, Sofía Capozzi and Guido Meirovich.

Involved fees earner: Alejandro Perelsztein – Bruchou, Ferna?ndez Madero & Lombardi; Agustín Bauer – Bruchou, Ferna?ndez Madero & Lombardi; Sofía Capozzi – Bruchou, Ferna?ndez Madero & Lombardi; Guido Meirovich – Bruchou, Ferna?ndez Madero & Lombardi; Marcelo Etchebarne – Cabanellas – Etchebarne – Kelly; Justo Segura – Cabanellas – Etchebarne – Kelly; Antonia Stolper – Shearman & Sterling; Alejandro Gordano – Shearman & Sterling; Aysuria Chang – Shearman & Sterling; Jeffrey Tate – Shearman & Sterling; Adam Sternberg – Shearman & Sterling; Juan Giráldez – Cleary Gottlieb Steen & Hamilton; Juan Ignacio Mollis – Cleary Gottlieb Steen & Hamilton; Mariano Sierra – Cleary Gottlieb Steen & Hamilton; Rachel Austin Shapiro – Cleary Gottlieb Steen & Hamilton;

Law Firms: Bruchou, Ferna?ndez Madero & Lombardi; Cabanellas – Etchebarne – Kelly; Shearman & Sterling; Cleary Gottlieb Steen & Hamilton;

Clients: Deutsche Bank AG London Branch; HSBC; Banco Santander Sa; Banco Santander Río S.A.; Province of Buenos Aires; HSBC Bank Argentina S.A.;

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Author: Ambrogio Visconti.