NEW YORK (August 4, 2016) – Holland & Knight, together with the law firm of Cabanellas, Etchebarne & Kelly, has advised Argentina’s Chubut Province on the issuance of $650 million of 7.750% secured amortizing notes due 2026. The offering closed on July 26.
Initial purchasers included BNP Paribas Securities Corp., Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC and Puente Corredor de Bolsa S.A. Deutsche Bank Trust Company Americas acted as trustee, registrar, transfer and principal paying agent.
The notes are secured by certain hydrocarbon royalties that have been assigned in trust to Deutsche Bank S.A. as Argentine collateral agent for the benefit of the holders of the notes. State-owned Banco del Chubut acted as financial agent to the Province.
Holland & Knight acted as counsel to the Province through a team led by partner Stephen Double and senior counsel Carlos Meza, both based in New York, and associate Ashley Panaggio in Tampa.
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