Legal Advice in the Issuance by Banco de la Provincia de Buenos Aires of Series VII Bonds for ARS 60,797,817,351 and Series VIII Bonds for US$ 33,593,271
Counsel to Banco de la Provincia de Buenos Aires, Banco de Galicia y Buenos Aires S.A., Banco BBVA Argentina S.A., Balanz Capital Valores S.A.U., Macro Securities S.A.U., Banco Comafi S.A., Banco Patagonia S.A., Puente Hnos S.A., Invertironline S.A.U., SBS Trading S.A., Provincia Bursátil S.A. and Cocos Capital S.A., as placement agents, in connection with the issuance by Banco de la Provincia de Buenos Aires of ARS 60,797,817,351 series VII bonds, denominated and payable in pesos at a variable annual interest rate equivalent to the TAMAR Rate plus a margin of 4.25%, maturing on September 16, 2027 (the "Series VII Bonds"), and US$ 33,593,271 series VIII bonds, denominated and payable in cash in U.S. dollars in Argentina at a fixed interest rate of 5.75%, maturing on September 16, 2028 (the "Series VIII Bonds" and, together with the Series VII Bonds, the "Bonds"). The Bonds were issued on September 16, 2026 under the Global Program for the Issuance of Short-, Medium- and Long-Term Debt Securities for a maximum aggregate outstanding principal amount of US$ 1,500,000,000 (or its equivalent in other currencies and/or units of value or measurement).
Municipality of the City of Córdoba’s Series LIII Treasury Notes Issuance for a total nominal amount of AR$50,000,000,000
Legal counsel to the Municipality of the City of Córdoba (the “Municipality”), as issuer of the Municipality’s Series LIII Treasury Notes (the “Treasury Notes”) for a total nominal amount of AR$50,000,000,000 (fifty billion Argentine pesos), at an annual floating interest rate equal to the Tamar for Private Banks rate plus a margin of 6.90%.
The Treasury Notes were issued under the Municipality’s 2026 Treasury Notes Issuance Programme on September 10, 2026, due on September 3, 2027, and are secured by the Municipality's collection of the tax levied on Commercial, Industrial and Service Activities, corresponding to the Large Taxpayers category.
Legal Advice in the Issuance by Crown Point Energía S.A. of Class X and Class XI Notes for an Aggregate Amount of US$55,039,755
Counsel to Banco de Servicios y Transacciones S.A.U., ST Securities S.A.U., Banco de Galicia y Buenos Aires S.A.U., Macro Securities S.A.U., Nuevo Chaco Bursátil S.A., Invertironline S.A.U., SBS Trading S.A., PP Inversiones S.A., and Zofingen Securities S.A., as placement agents, in connection with the issuance of Crown Point Energía S.A. USD 8,264,901 Class X notes, secured, denominated, subscribed, paid-in and payable in U.S. dollars, at an 8.50% fixed annual nominal interest rate, and USD 46,774,854 Class XI notes, denominated in U.S. dollars, paid-in in Argentine pesos and/or in kind through the delivery of Class VII notes, and payable in Argentine pesos, at a 9.50% fixed annual nominal interest rate (together, the "Notes"). The Notes were issued on September 3, 2026 under the Global Program for the Issuance of Simple Notes for a maximum aggregate outstanding principal amount of USD 300,000,000 (or its equivalent in other currencies and/or units of value or measurement). The Class X Notes are due on September 3, 2029 and the Class XI Notes are due on March 3, 2029.
Legal Advice on the Transfer of Banco Industrial S.A.'s Retail Banking Business to Banco Patagonia S.A.
Legal Counsel to Banco Industrial S.A. on the partial transfer of its retail banking business to Banco Patagonia S.A. The transaction includes branches and certain related assets and liabilities.
Banco Industrial S.A. is an Argentine commercial bank that provides corporate, retail and investment banking services to companies and individuals in Argentina.
Banco Patagonia S.A. is one of Argentina's leading commercial banks, with a strong nationwide presence in retail and corporate banking.
The closing of the transaction is subject to certain precedent conditions and obtaining applicable regulatory approvals.
First Issuance of Notes by Empresa Provincial de Energía de Córdoba S.A.U. under its Program
Legal counsel to Empresa Provincial de Energía de Córdoba S.A.U. (EPEC) in the issuance of its Class I Notes, in an aggregate principal amount of USD 21,316,695 denominated and payable in U.S. dollars in Argentina, to be paid in cash in U.S. dollars in Argentina, bearing interest at a fixed rate of 5.00% nominal annual, maturing on February 2028, and its Class II Notes, in an aggregate principal amount of UVA 13,458,500 denominated and payable in Argentinean Pesos, bearing interest at a fixed rate of 6.75% nominal annual, maturing on August 2028, representing the Company’s first issuance in the capital markets.
Banco de la Provincia de Córdoba S.A. acted as arranger and placement agent, while Banco Santander Argentina S.A., Banco de Galicia y Buenos Aires S.A., Macro Securities S.A.U., Puente Hnos. S.A., Banco de Servicios y Transacciones S.A.U., Balanz Capital Valores S.A.U., Invertironline S.A.U., S&C Inversiones S.A., Facimex Valores S.A., PP Inversiones S.A., One618 Financial Services S.A.U., and Global Valores S.A. acted as placement angents.
Legal Advice to Club Atlético River Plate on the US$ 100,000,000 Loan for the Expansion and Roofing of the Mâs Monumental Stadium
Our Banking, Infrastructure, and Corporate teams advised Club Atlético River Plate Asociación Civil (CARP), as borrower, in connection with a syndicated loan in an aggregate amount of US$ 100,000,000.
The loan structure comprises: (i) a loan from IDB Invest for up to US$ 50 million; and (ii) a loan from CAF for up to US$ 50 million. The co-financing scheme between CAF and IDB Invest reflects both institutions’ commitment to jointly mobilizing resources in order to strengthen infrastructure across the region.
With respect to IDB Invest, the loan proceeds will be used: (i) to refinance bridge financing used for the construction of the new school building and Casa River (the youth residence and development center); and (ii) to finance the construction of improvements to the stadium, including, among others, extending the useful life of the facility, improving its acoustics, increasing capacity to 100,000 spectators and installing a partial roof to enhance the fan experience.
As for CAF, its resources are directed mainly to the stadium’s roof component. By acting as thermal insulation, the roof will reduce direct solar radiation on the facility and, as a result, the energy demand of the climate control system, improving the venue’s energy efficiency and reducing its consumption.
With more than 350,000 members, CARP is one of the sports clubs with the largest membership worldwide, and is widely recognized for its professional football department. The Club offers 20 federated sports, organizes recreational activities for the community and runs its own school with more than 1,700 students per year, spanning from early childhood through higher education and combining academic excellence with sports training.
The loan is backed by a complex security package, comprising the fiduciary assignment of various collection flows and rights of the Club.
In connection with the transaction, our Infrastructure team advised CARP on the principal agreements governing the execution of the project. The team advised the Club throughout the competitive tender process to select the contractor, including the preparation and review of the bidding documents pursuant to which leading local and international construction firms participated in the tender, as well as on the subsequent EPC (engineering, procurement and construction) agreement entered into with Grupo ENG S.A., the selected bidder, for the execution of the stadium’s expansion and roofing works. The team also advised CARP on the technical supervision agreement entered into with SBP (Schlaich Bergermann Partner), a leading German engineering firm renowned for its design and supervision of large-scale structures, including the roofs of Tottenham Hotspur Stadium and the Santiago Bernabéu Stadium.
Legal Advice in the Issuance by Banco CMF S.A. of Class 20 Notes for US$ 22.029.901
Counsel to Banco CMF S.A., as issuer and placement agent, in connection with the issuance of US$22,029,901 Class 20 notes, denominated and payable in U.S. dollars in Argentina, to be paid in cash in U.S. dollars in Argentina and/or in kind through the delivery of Class 19 notes, at a 4.00% fixed annual nominal interest rate (the "Notes"). The Notes were issued on August 24, 2026 under the Global Program for the Issuance of Simple Notes (not convertible into shares) for a maximum aggregate outstanding principal amount of US$100,000,000 (or its equivalent in other currencies and/or units of value or measurement) and are due on August 24, 2027.
Issuance of the Class III, Class IV and Class V Notes of Banco de la Provincia de Córdoba S.A. under its Program
Legal counsel to Banco de la Provincia de Córdoba S.A. in the issuance of its Class III Notes, in an aggregate principal amount of ARS 11,000,000,000, denominated and payable in Argentine pesos, to be paid in cash in pesos and/or in kind through the delivery of Class I Notes, bearing interest at the TAMAR rate plus a margin of 2.5%, maturing on August 10, 2027; issued its Class IV Notes, in an aggregate principal amount of USD 20,000,000, denominated and payable in U.S. dollars, to be paid in cash in U.S. dollars and/or in kind through the delivery of Class II Notes, bearing interest at a fixed rate of 5.95% nominal annual, maturing on August 10, 2029; and issued its Class V Notes, in an aggregate principal amount of UVA 34,387,337, denominated in UVA and payable in pesos at the applicable UVA value, to be paid in cash in pesos at the initial UVA value and/or in kind through the delivery of Class I Notes, bearing interest at a rate of 6.75% nominal annual, maturing on August 10, 2028 (together, the “Notes”), under its program for the issuance of simple notes (not convertible into shares) for up to an aggregate principal amount of USD 100,000,000 (one hundred million U.S. dollars) (or its equivalent in other currencies or units of measurement or value).
Banco de la Provincia de Córdoba S.A. acted as issuer, arranger, settlement agent and Lead Placement Agent, and Becerra Bursátil S.A., SyC Inversiones S.A., Banco Santander Argentina S.A., Banco de Galicia y Buenos Aires S.A., Macro Securities S.A.U., Puente Hnos. S.A., Balanz Capital Valores S.A.U., Cocos Capital S.A., Invertir Online S.A.U., Allaria S.A., Banco de Servicios y Transacciones S.A.U., Banco Patagonia S.A. and Facimex Valores S.A. acted as placement agents.
Legal Advice in IEB Construcciones S.A.’s Notes Issuance
Legal advisors to IEB Construcciones S.A. and the Placement Agents in connection with the issuance of Class I simple negotiable obligations for a total nominal value of US$ 20,000,000 (twenty million US Dollars), denominated, subscribed and payable in US Dollars, at a fixed annual rate of 6.5%, maturing on August 10, 2027.
Invertir en Bolsa S.A. acted as Arranger and Placement Agent. Meanwhile, PP Inversiones S.A., Bull Market Brokers S.A., SBS Trading S.A., Win Securities S.A., S&C Inversiones S.A., Argentina Valores S.A. and INVIU S.A.U. acted as Placement Agents.
US$120 Million Loan to the City of Córdoba
We advised the City of Córdoba, as borrower, and the Province of Córdoba, as guarantor, in connection with a US$120 million financing provided by private lenders. The transaction was arranged by Deutsche Bank AG, with TMF Group New York LLC acting as administrative agent.