DLA Piper advised the Province of Chubut on the issuance of series CXVIII Class 2 Treasury Notes for an aggregate principal amount of AR$45.5 billion in debt secured notes due 2026.
The debt securities were issued on May 20, 2026 and were structured with a dual fixed-rate mechanism, accruing interest at the higher of (i) a 27.00% nominal annual fixed rate or (ii) the Private TAMAR Rate plus a fixed spread of 5.50% nominal annual. The debt securities will be fully amortized at maturity on September 21, 2026.
The DLA Piper team was comprised of Partner Justo Segura and Associates Federico Vieyra, and Ignacio Comparato (all Buenos Aires).
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