Provincia del Neuquén’s $50 Million Credit Facility

Tanoira Cassagne and Bruchou, Fernández Madero & Lombardi and Skadden advised on the transaction. Cleary Gottlieb advised the Province of Neuquén, a province of the Republic of Argentina.

Neuquén province secured a $50 million loan from Credit Suisse International and Credit Suisse AG, Cayman Islands Branch.

Credit Suisse Securities (USA) LLC acted as bookrunner and lead arranger, and Credit Suisse AG, London Branch acted as administrative agent.

Proceeds will be use to finance operations and to pay exisiting debts.

The transaction closed on July 26, 2019.

The loan is secured by a portion of oil and gas royalties payable to the Province by certain concessionaires.

This financing is added to the $215 million that had originally been granted to the Province by Credit Suisse in 2015 and 2018.

Tanoira Cassagne advised the Neuquén Province with Alexia Rosenthal (Picture), Jaime Uranga, Juan Sanguinetti, Ignacio Criado Díaz and Lucía Farrando.

Bruchou, Fernández Madero & Lombardi advised Credit Suisse Securities (USA) LLC, Credit Suisse AG, London Branch, Credit Suisse International and Credit Suisse AG, Cayman Islands Branch with Alejandro Perelsztein e Ignacio Minorini Lima, Andrés Martín Chester, Cristian Ragucci, Luisina Rossi, Juan Antonio Zocca and Micaela Saieg.

Skadden, Arps, Slate, Meagher & Flom advised Credit Suisse Securities (USA) LLC, Credit Suisse AG, London Branch, Credit Suisse International and Credit Suisse AG, Cayman Islands Branch with Alejandro González Lazzeri and  Jurgen Spihlmann.

Cleary corporate team advising the Province of Neuquén included partner Andrés de la Cruz, law clerk Federico Torassa, and international lawyer Juan Grimau. Senior attorney David Fisher and law clerk Colleen O’Donnell provided tax advice.

Involved fees earner: Ignacio Minorini Lima – Bruchou, Ferna?ndez Madero & Lombardi; Alejandro Perelsztein – Bruchou, Ferna?ndez Madero & Lombardi; Cristian Ragucci – Bruchou, Ferna?ndez Madero & Lombardi; Andrés De la Cruz – Cleary Gottlieb Steen & Hamilton; Juan Ignacio Grimau – Cleary Gottlieb Steen & Hamilton; David Stewart Fisher – Cleary Gottlieb Steen & Hamilton; Alejandro Gonzalez Lazzeri – Skadden Arps Slate Meager & Flom; Jurgen Spihlmann – Skadden Arps Slate Meager & Flom; Ignacio Criado Díaz – Tanoira Cassagne; Lucía Farrando – Tanoira Cassagne; Alexia Rosenthal – Tanoira Cassagne; Juan Sanguinetti – Tanoira Cassagne; Jaime Uranga – Tanoira Cassagne;

Law Firms: Bruchou, Ferna?ndez Madero & Lombardi; Cleary Gottlieb Steen & Hamilton; Skadden Arps Slate Meager & Flom; Tanoira Cassagne;

Clients: Credit Suisse; Credit Suisse AG Cayman Islands Branch; Credit Suisse AG London Branch; Credit Suisse International; Credit Suisse Securities (USA) LLC; Province of Neuquén ;

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Author: Ambrogio Visconti.