TCA Tanoira Cassagne advised Banco de la Provincia de Buenos Aires (“Banco Provincia”) on the creation of its global program for the issuance of short, medium, and long-term debt securities for a maximum outstanding nominal value of up to US$1,500,000,000,
TCA Tanoira Cassange also advised Banco Provincia on the issuance of: (i) Class I notes for a nominal amount of AR$ 5,290,168,804 (the “Class I Debt Securities”); and (ii) Class II notes for a nominal amount of US$ 9,674,937 (the “Class II Debt Securities”).
The Class I Debt Securities are denominated and will be payable in Argentine Pesos. The Class II Debt Securities are denominated in US dollars and will be payable in US dollars in Argentina.
The Class I Debt Securities will mature on May 29th, 2026, with a floating interest rate equivalent to the TAMAR rate plus a 3.50% margin. The Class II Notes will mature on May 29th, 2026, and will accrue interest at a fixed interest rate of 6.25%.
Banco de la Provincia de Buenos Aires is an autonomous public law institution founded in 1822, and stands as the oldest bank in Latin America. It is wholly owned by the Province of Buenos Aires and serves as its financial agent, managing tax collections, salary, pension and retirement payments, and other provincial obligations.
With a strong territorial presence, it has more than 400 branches in the Province of Buenos Aires and the City of Buenos Aires (CABA), and has maintained a leading track record in financial inclusion and digital innovation.
Deal Counsel: TCA Tanoira Cassagne: Partners Alexia Rosenthal and Jaime Uranga; and associates Carolina Mercero, Joaquín López Matheu and Florencia Ramos Frean.
In-house Counsels of Banco de la Provincia de Buenos Aires: Casanovas, Marcelo A. and Perez, Gonzalo.
