The Province of Buenos Aires’ ARS30 Billion Offering

April 12, 2018

Cleary Gottlieb represented long-time client The Province of Buenos Aires, a province of the Republic of Argentina, in its global offering of ARS30 billion notes due 2025, which consisted of an offering to the public in Argentina and a Rule 144A/Regulation S offering outside of Argentina.

Citigroup, HSBC, and Itaú served as joint bookrunners for the international portion of the offering, and Banco Galicia, Banco de la Provincia de Buenos Aires, Citigroup, HSBC, and Itaú acted as co-managers for the local portion. The offering of the notes priced on April 5, 2018, and closed on April 12, 2018.

The transaction constituted the Province’s second international offering of Argentine Peso-denominated bonds governed by Argentine law.