DLA Piper advised the Province of Buenos Aires, Argentina, in connection with its issuance of public debt securities in the aggregate principal amount of AR$113 billion (the “TAMAR Notes”), maturing in 2027, and CER-adjustable peso-denominated public debt securities maturing in 2028, in the aggregate principal amount of AR$203 billion (the “CER Notes”).
The Province of Buenos Aires will use the net proceeds to finance public investment projects currently underway or expected to commence and to repay public debt obligations. The debt securities, which mature on April 30, 2027, will be repaid in full at maturity and will accrue interest at a rate equal to the TAMAR rate plus a fixed margin of 7 percent per annum.
The DLA Piper team representing the Province of Buenos Aires included Partner Justo Segura and Associates Federico Vieyra and Ignacio Comparato, all based in Buenos Aires.
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