Pluspetrol in $450 Million Inaugural International Offering

Cleary Gottlieb represented Pluspetrol S.A. (Pluspetrol) in its debut Rule 144A/Reg S debt offering of $450 million aggregate principal amount of 8.5% senior notes due 2032.

The offering launched on May 19, 2025, priced on May 22, 2025, and is expected to close on May 30, 2025. The notes are expected to be listed on Bolsas y Mercados Argentinos S.A and trade on A3 Mercados.

BofA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Santander US Capital Markets LLC acted as joint bookrunners, and Galicia Capital acted as issuer advisor.

Pluspetrol is a leading Argentine private oil and gas company with high-quality production assets in Argentina and the second-largest company in the Vaca Muerta formation by acreage, with over 317,000 net acres across eleven concessions. Pluspetrol is part of the Pluspetrol Resouces group, one of the largest private oil and gas operators in Latin America, present in Argentina, Bolivia, Colombia, Ecuador, United States, Netherlands, Peru, and Uruguay.