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 7.875% senior notes due 2038.

The offered notes constitute a further issuance of Vista Argentina’s 2038 notes, which were initially issued on April 8, 2026. Following the reopening, the aggregate principal amount of 2038 notes outstanding will total $900 million. Cleary also represented Vista Argentina in the original issuance.

The offering launched on September 21, 2026, priced on September 22, 2026, and is expected to close on October 9, 2026. It was conducted as a private placement in the United States under Rule 144A and as an offshore offering in reliance on Regulation S. The currently outstanding 2038 notes are listed and admitted to trading on the Bolsa y Mercados Argentinos S.A., and are admitted to trading on A3 Mercados S.A. Application has been made to have the offered notes listed and admitted to trading on 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. It has been operating since April 4, 2018. Vista is the largest oil exporter and 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 whose shares are listed on the Mexican Stock Exchange and whose ADSs are listed on the New York Stock Exchange.

The Cleary team included partner Manuel Silva and associates Rodrigo López Lapeña, Lucas Davidenco, and Lara Gomez Tomei. Partner Matthew Brigham and associate Yoolim Lee advised on tax matters.