TCA Tanoira Cassagne and Bruchou & Funes de Rioja advise on a new issuance of notes (payable in Pesos and/or in kind) by the Province of Río Negro.


Province of Río Negro (the “Province”) has successfully issued notes “BONO RÍO NEGRO SERIE II” due on July 25, 2024, as part of its financing program for the year 2023 (the “Notes”).

The Notes were issued for an aggregate amount of AR$ and accruing a floating interest rate equal to the Badlar rate plus a 15% margin.

Payments due under the Notes will be guaranteed by an assignment of the Province´s rights over the funds or any other payment under the Federal Tax Co-Participation Regime, or the one replacing it in the future. The issuance date of the Notes was on July 20, 2023.

Banco Patagonia S.A. acted as arranger and placement agent.; Banco de Servicios y Transacciones S.A., Banco Comafi S.A., ADCAP Securities Argentina S.A., Puente Hnos. S.A. and Industrial Valores S.A. acted as sub-placement agents.

TCA Tanoira Cassagne advised the issuer, through a team led by partners Alexia Rosenthal and Jaime Uranga and associates Juan Sanguinetti, Juan Manuel Simó, Teófilo Trusso y Ana Lucía Miranda.

Bruchou & Funes de Rioja advised the principal arranger and placement agent and sub-placement agents, through a team led by partner Alejandro Perelsztein and associates Ramón Augusto Poliche and Sofía Maselli.

Related content