Linklaters Advises Petroquímica Comodoro Rivadavia S.A. on US$400m Inaugural Bond Offering

Linklaters advised Petroquímica Comodoro Rivadavia S.A. (“PCR”) and its subsidiary Luz de Tres Picos S.A. (“LDTP”), as co-issuers, on their debut offering of US$400m 8.500% Senior Notes due 2034. The notes were offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act. The offering launched on July 13, 2026, priced on July 22, 2026, and closed on July 28, 2026. The notes are listed on Bolsas y Mercados Argentinos S.A. (ByMA) and admitted for trading on ByMA and on A3 Mercados S.A. This transaction marks PCR’s first international capital markets bond issuance.

PCR is an Argentine independent energy company with over 100 years of experience in the exploration and production of oil and gas. The company operates across three business segments: (i) upstream oil and gas, with a portfolio of 16 areas in Argentina and Ecuador, as well as a participation in a non-conventional hydrocarbons project in the United States; (ii) renewable energy, which operates one of the largest independent renewable energy platforms in Argentina; and (iii) cement production, where PCR is the leading producer in the Argentine Patagonia.

Spanning New York and São Paulo, the Linklaters deal team was led by Partners Emilio Minvielle and Matthew Poulter, alongside Counsel Marcelo Arellano, Associate Madeleine Bléhaut, International Associate Francisco Algorta. Additional tax assistance for the deal was provided by Partner Gabriel Grossman and Senior Associate Bernard Yi.

Linklaters’ lawyers have practiced in Latin America for decades and Linklaters was one of the first international firms to open an office in Brazil in 1997. With a growing team of Latin America-focused lawyers across the firm’s New York, Washington, D.C., and São Paulo, the firm continues to increase its presence in the Latin America region and deepen existing relationships with leading local law firms. Linklaters is highly ranked across key Latin America legal directories including Chambers, Legal 500, and Latin Lawyer.