Republic of Argentina’s €2.750 Million Bond Offering

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

The offering consisted of €1 billion principal amount of 3.375% bonds due 2023, €1 billion principal amount of 5.25% bonds due 2028 and €750 million principal amount of 6.25% bonds due 2047. This transaction marks Argentina’s first SEC-registered primary offering since its return to the capital markets in 2016.

Cleary Gottlieb Steen & Hamilton advised the Republic of Argentina with Andrés de la Cruz (Picture), Erika Nijenhuis, Carlos von der Heyde, Ignacio Lagos, Adriana Camaño and Jonathan LaPlante.

Shearman & Sterling represented Banco Bilbao Vizcaya Argentaria, Citigroup Global Markets and Banco Santander as underwriters in connection with the offering with a team including Antonia Stolper (New York-Capital Markets); counsel Alejandro Gordano (London-Capital Markets); associate Robert Powel (New York-Capital Markets); and visiting attorney Juan Vignolo (New York-Capital Markets). Other Shearman & Sterling lawyers involved in the transaction were partner Russell Sacks (New York-Financial Institutions Advisory & Financial Regulatory); counsel Jennifer Morton (New York-Financial Institutions Advisory & Financial Regulatory) and Jeffrey Tate (Washington, DC-Tax); and associates Jenny Ding Jordan, Sean Kelley (both New York-Financial Institutions Advisory & Financial Regulatory) and Devon Yamauchi (New York-Tax).

In Argentina Bruchou, Fernández Madero & Lombardi advised the underwriters with Hugo N. Bruzone, José María Bazán and Juan Barros Moss.


Involved fees earner: Hugo Bruzone – Bruchou, Ferna?ndez Madero & Lombardi; José María Bazán – Bruchou, Ferna?ndez Madero & Lombardi; Juan Barros Moss – Bruchou, Ferna?ndez Madero & Lombardi; Antonia Stolper – Shearman & Sterling; Alejandro Gordano – Shearman & Sterling; Russell Sacks – Shearman & Sterling; Jennifer Morton – Shearman & Sterling; Jenny Ding Jordan – Shearman & Sterling; Sean Kelly – Shearman & Sterling; Jeffrey Tate – Shearman & Sterling; Andrés De la Cruz – Cleary Gottlieb Steen & Hamilton; Carlos von der Heyde – Cleary Gottlieb Steen & Hamilton; Ignacio Lagos – Cleary Gottlieb Steen & Hamilton; Erika Nijenhuis – Cleary Gottlieb Steen & Hamilton; Jonathan LaPlante – Cleary Gottlieb Steen & Hamilton;

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

Clients: Citigroup Global Markets Ltd; Banco Santander Sa; Banco Bilbao Vizcaya Argentaria (Bbva); Republic of Argentina;


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Author: Ambrogio Visconti.