Bomchil advised Banco BMA S.A.U. (p/k/a Banco Itaú Argentina S.A.) and Industrial and Commercial Bank of China (Argentina) S.A.U. in a syndicated loan for an amount of AR$11.5 billion to Metrogas S.A., Argentina’s largest gas distribution company, which will be applied to pay interest payable under certain existing facilities, both domestic and cross border, during the first semester of 2024. The loan will be disbursed in two tranches, including a tranche secured with a first priority pledge on certain collection rights derived from the provision of natural gas distribution services. The collateral agent of the pledge is TMF Trust Company (Argentina) S.A..
The loan and the use of funds is part of the refinancing process of Metrogas S.A.’s cross border debt, which required, among other matters, the amendment to the existing syndicated loans granted to Metrogas S.A. by Industrial and Commercial Bank of China (Argentina) S.A.U. and Banco BMA S.A.U. and the amendments to the bilateral loans granted by each of such entities to Metrogas S.A.
Legal advisors to Metrogas
In–house Lawyers: Pablo Ernesto Anderson and Damián Díaz.
Legal advisors to the Banks
Bomchil: Partners Fermín Caride and María Victoria Tuculet, and associate Yazmín Sophie Tek.
In-house BMA lawyers: Fernando Forni and Sebastián Videla
In-house ICBC lawyers: Tomás Koch and Sonia Lanutti
In-house TMF lawyers: Tomás Bruno and Leonardo Pirolo