Issuance of secured Series I Treasury Notes of the Province

On March 31, the Province of Neuquén (the “Province”), has successfully issued the Treasury Notes Series I for a total aggregate amount of AR$14,000,000,000 according to the following:

i) Treasury Notes Series I Class 1 maturing on March 31, 2024, issued for a total aggregate amount of AR$3,353,187,402 with a nominal annual variable rate equivalent to the Badlar rate plus a margin of 8.90%, secured with resources under the Federal Tax Co-Participation Regime paid to the Province;

ii) Treasury Notes Series I Class 2 Trench A maturing on September 30, 2024, issued for a total aggregate of U$S14,886,253 with a nominal annual interest rate of 2.49%, secured with resources under the Federal Tax Co-Participation Regime paid to the Province; and

iii) Treasury Notes Series I Class 2 Trench B maturing on March 31, 2026, issued for a total aggregate of U$S11.843.579 with a nominal annual interest rate of 6.00%, secured with certain Oil Royalties paid to the Province. 

iv) Treasury Notes Series I Class 3 Trench A maturing on September 30, 2024, issued for a total aggregate of AR$2,178,000,000 with a nominal annual interest rate of 5.80%, secured with resources under the Federal Tax Co-Participation Regime paid to the Province; and

v) Treasury Notes Series I Class 3 Trench B maturing on March 31, 2026, issued for a total aggregate of AR$2,925,000,000 with a nominal annual interest rate of 8.50%, secured with certain Oil Royalties paid to the Province.

Banco Provincia del Neuquén S.A. acted as principal arranger, placement agent and calculation agent; Banco de Galicia y Buenos Aires S.A.U. and Banco Macro S.A. acted as co-arrangers; and Banco de Galicia y Buenos Aires S.A.U., Macro Securities S.A.U., Adcap Securities Argentina S.A., Banco Patagonia S.A., Balanz Capital Valores S.A.U., Banco de Servicios y Transacciones S.A., Compañía Financiera Argentina S.A., Banco Comafi S.A. and TPCG Valores S.A.U. acted as co-placement agents.

Bruchou & Funes de Rioja advised the co-arrangers and co-placement agents, through partner Alejandro Perelsztein and associates Leandro E. Belusci, Manuel Etchevehere and Branko Serventich.

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.