Province of Buenos Aires’ €500 Million Debt Offering

July 20, 2017

Cleary Gottlieb represented long-time client the Province of Buenos Aires, a province of the Republic of Argentina, in its first euro-denominated bond since the 2005 global debt restructuring.

The Province issued €500 million aggregate principal amount of its 5.375 percent notes due 2023 in reliance on  Rule 144A/Reg S. The offering of the notes, for which Deutsche Bank, HSBC and Santander served as joint bookrunners and Banco de la Provincia de Buenos Aires acted as local co-manager, priced on July 13, 2017, and closed on July 20, 2017.

The notes are expected to be listed on the Luxembourg Stock Exchange and admitted to trade on the Euro MTF market of the exchange, and also listed on the Bolsas y Mercados Argentinos S.A. and the Mercado Abierto Electrónico S.A.