Vista Argentina in $400 Million Notes Reopening

Cleary Gottlieb represented Vista Energy Argentina S.A.U. (Vista Argentina) in the $400 million reopening of its 8.5% senior notes due 2033.

The offered notes constitute a further issuance of Vista Argentina’s 2033 notes initially issued on June 10, 2025. Following the reopening, the principal amount of 2033 notes outstanding will be $900 million. Cleary also represented Vista Argentina in the original issuance.

The offering launched on December 1, 2025, priced on December 3, 2025, and is expected to close on December 10, 2025. The offering was conducted as a private placement in the United States under Rule 144A and an offshore offering in reliance on Regulation S. The currently outstanding 2033 notes are listed and admitted to trading on the Bolsa y Mercados Argentinos S.A. and admitted to trading on A3 Mercados S.A. (formerly Mercado Abierto Electrónico S.A.). Application has been made to have the offered notes listed and admitted to trading in these same markets.

Vista Argentina is a leading shale oil-focused company engaged in the exploration and production of oil and natural gas in Argentina, operating since April 4, 2018. Vista is the largest independent oil producer in Argentina and in Vaca Muerta, the most extensive shale oil and gas play under development outside North America. The issuer is a subsidiary of Vista Energy S.A.B. de C.V., a Mexican publicly traded corporation with shares listed on the Mexican Stock Exchange and ADSs listed on the New York Stock Exchange.

The Cleary team included partner Manuel Silva and associates Rodrigo López Lapeña and Lucas Davidenco, with assistance from international lawyer Marina Rotman. Partner Matt Brigham and associate Abdel Rodríguez advised on tax matters.