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News Apr 12, 2018

The Province of Buenos Aires’ ARS 30 Billion Notes Offering

Shearman & Sterling represented Citicorp Capital Markets S.A., Banco Itaú Argentina S.A. and HSBC Bank Argentina S.A. as initial purchasers, and Citigroup Global Markets Inc., Itau BBA USA Securities, Inc. and HSBC Securities (USA) Inc., as international purchasers, in connection with the Province of Buenos Aires’ (a Province of the Republic of Argentina) global offering of ARS 30,000,000,000 notes due 2025. The global offering consisted of an offering of ARS 22,498,677,000 aggregate principal amount of notes to the public in Argentina, and an offering of ARS 7,501,323,000 aggregate principal amount of notes to investors outside of Argentina pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended.  Interest on the notes will accrue at a variable rate with certain applicable minimum rates.

The Shearman & Sterling team below was supported by international associate Blanca Garcia (New York-Capital Markets).

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