On July 23, 2018, Aluar Aluminio Argentino S.A.I.C. (“Aluar”), a sociedad anónima industrial y comercial organized and existing under the laws of the Republic of Argentina, entered into a US$ 65,972,620 credit facility with EKF Denmark’s Export Credit Agency as original lender, Citibank Europe Plc, UK Branch as facility agent, Citibank N.A. as collateral agent and the branch of Citibank N.A. established in the Republic of Argentina as onshore custody agent and arranger, to finance the purchase and installation of wind turbines and other equipment and the payment of costs related to Aluar’s 60MW El Llano Phase II wind farm project located in the province of Chubut, Argentina.

Disbursements under the facility will be made in accordance with a fixed borrowing schedule during a twelve-month period, and the loans will be repaid in quarterly installments with final maturity in 2034. The loans are secured with the assignment and pledge of certain export receivables of Aluar.

Main participants:

Counsel to Aluar Aluminio Argentino:

o    Mitrani Caballero & Ruiz Moreno: acted as both international and local counsel through partners Diego Parise and Natalia Rauchberger and associates Guillermo Cornejo Bosch and Dolores Acosta Miguens, and senior counsel Corina Laudato and associate Magdalena Magnasco in connection with tax-related matters.

Counsel to EKF Denmark’s Export Credit Agency:

o    Clifford Chance US LPP: acted as international counsel through partner Catherine McCarthy, special legal consultant Laura Marriot and associate Evan Pelz.

o    Bruchou, Fernández Madero & Lombardi: acted as Argentine counsel through partner Alejandro Perelsztein and associates Andrés Chester and Sofía Gallo.

Counsel to Citibank as Facility Agent and Collateral Agent:

o    Alston & Bird: acted as international counsel through partner Brad Johnson and associate Matt Kelsey.