DLA Piper Argentina advised Empresa Distribuidora y Comercializadora Norte S.A.(Edenor), the largest electricity distributor in Argentina, on the issuance of approximately AR$20 million Additional Class 4 Notes at a variable interest rate corresponding to the sum of the ‘Badlar Privada’ Rate and a 3% margin, maturing on March 7, 2025.
Edenor will use all of the net proceeds from the issue to invest in infrastructure projects that qualify as investments in Regulatory Capital Assets, including the development and execution of the Issuer’s investment plan, which it is required to carry out under the current regulatory framework.
The Notes were issued under the Global Program for the Issuance of Non-Convertible Notes for a face value of up to US$750 million.
The DLA Piper Argentina was led by partner Alejandro Noblía and included associates Federico Vieyra and Marcelo Ra (all of Buenos Aires).
DLA Piper in Latin America’s Team offers full-service business legal counsel to domestic and multinational companies with interests in and operations throughout the region. Our integrated approach to serving clients combines local knowledge with the resources of the DLA Piper global platform. With over 450 lawyers practicing throughout Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Puerto Rico, in addition to our US-based cross-border attorneys, our teams frequently work with our professionals throughout the LatAm region, Iberian Peninsula, and around the globe. DLA Piper’s global platform of 90+ offices in more than 40 countries enables us to serve all our clients’ legal and business needs, whether they are based in Latin America or wish to do business there.
