Represents the third liability management transaction by a province in Argentina after the sovereign’s default

Linklaters advised the Province of Río Negro in the solicitation of consents to restructure its outstanding US$300 million 7.75% Notes due 2025.

Holders representing 96.23% of the aggregate principal amount of the notes delivered their consents, which allowed the application of the collective action clauses in the indenture to modify all notes.

The Province of Río Negro has become the third Argentine province, after the Province of Mendoza and the Province of Neuquén transactions on which we advised the dealer managers, following the sovereign’s default, to restructure its bonds this year.

The Linklaters team was led by partner Conrado Tenaglia alongside counsel Alejandro Gordano and Matthew Brigham (Tax), associate Stephanie Torres and foreign attorneys Monica Perez-Banuet Farell and Juan Mata.