Legal counsel to the Province of Córdoba, as issuer, and Banco de la Provincia de Córdoba S.A., as arranger and placement agent, in the issuance of Province of Córdoba’s class 5 notes (the “Class 5 Notes”) and class 6 notes (the “Class 6 Notes”, and together with the Class 5 Notes, the “Notes”), under the Province of Cordoba’s Treasury Notes Issuance Program for up to US$485,000,000. The payments due under the Notes are secured by a collateral assignment over rights of the Province of Córdoba arising from the Federal Tax Regime (Régimen de Coparticipación Federal).
The Class 5 Notes were issued in an aggregate principal amount of AR$74,873,578,027 (equivalent to approximately US$52,046,864), bearing a floating interest rate equal to the TAMAR rate plus a 5.50% margin. The Class 5 Notes mature on December 5, 2027, and are repaid in two (2) installments of 25% and 75%, due on June 5, 2027, and December 5, 2027, respectively.
The Class 6 Notes were issued in an aggregate principal amount of AR$110,439,761,325 (equivalent to approximately US$76,769,982). Principal under the Class 6 Notes is adjusted by the Reference Stabilization Index (Coeficiente de Estabilización de Referencia) and bears interest at a rate of 9.75% per annum. The Class 6 Notes mature on December 5, 2027, and are repaid in two (2) installments of 25% and 75%, due on June 5, 2027, and December 5, 2027, respectively.
The proceeds of the Notes will be applied by the Province of Córdoba to the financing of the execution of infrastructure projects included in its 2025–2026 investment plan.