Clifford Chance advises on successful senior notes reopening by Argentine energy company EDENOR

Global law firm Clifford Chance has advised BofA Securities, Inc., Banco BTG Pactual S.A. – Cayman Branch, UBS Securities LLC and Latin Securities, Inc., as joint bookrunners, in connection with the offering of ~US$201 million 9.75% senior notes due 2030 by Empresa Distribuidora y Comercializadora Norte S.A. (EDENOR). EDENOR is a public electricity distribution company located in Buenos Aires, Argentina.

This transaction was a reopening of EDENOR’s 9.75% senior notes due 2030 (the Notes), originally issued in October 2024. After the consummation of the reopening, the aggregate principal amount of Notes outstanding is US$385 million. The Notes are listed on the Luxembourg Stock Exchange, admitted to trading on the Euro MTF market, listed and admitted for trading on Bolsas y Mercados Argentinos S.A. through the Buenos Aires Stock Exchange, and admitted to trading on the A3 Mercados S.A.

The team advising on the transaction was led by partner Hugo Triaca with support from associates David Rondon and Cristian Ragucci and foreign lawyer Juan Andrés Bosch. Partner Avrohom Gelber provided tax advice.

Clifford Chance advises on many similar transactions in Latin America, including on EDEMSA’s inaugural notes issuance in 2025 and EDENOR’s notes issuance and related exchange offer in 2024.