Neuquén in $50 Million Credit Facility
July 26, 2019
Cleary Gottlieb represented the Province of Neuquén (Neuquén), a province of the Republic of Argentina, in a secured credit facility of $50 million with Credit Suisse AG, Cayman Islands Branch as lender, Credit Suisse Securities (USA) LLC as bookrunner and lead arranger, and Credit Suisse AG, London Branch, as administrative agent.
The transaction closed on July 26, 2019. The loan is secured by a portion of oil and gas royalties payable to Neuquén by certain concessionaires. This financing is added to the $215 million that had originally been granted to Neuquén by Credit Suisse in 2015 and 2018.