Argentina’s Oleoductos del Valle makes $60m bond issuance

Argentine fuel pipeline operator Oleoductos del Valle (Oldelval) has made a successful issuance of Class 3 Notes for an amount of $60 with a fixed rate of 0.00%, maturing on July 10, 2027.

Posted lundi, juillet 24 2023
Argentina’s Oleoductos del Valle makes $60m bond issuance

The proceeds from the placement will be used mostly to partially finance infrastructure works, mainly related to the Duplicar Project, which consists of a project to expand Oldelval's transportation capacity.

The project includes the laying of approximately 525 km of pipelines along Rio Negro, La Pampa and Buenos Aires, the repowering of pumping stations and the replacement of a pipeline section in the Bahía Blanca area. This will allow for the increase of the country's oil exports between approximately 180,000 and 250,000 barrels per day.

Argentine law firm Bruchou & Funes de Rioja acted as counsel to Oleoductos del Valle, with a team led by partner José María Bazán, with associates Leandro Belusci, Josefina Mortola Saiach and Sofía Maselli.

Law firm TCA Tanoira Cassagne advised Macro Securities as arranger and placement agent, and Banco Santander Argentina, Banco de Galicia y Buenos Aires, Industrial and Commercial Bank of China (Argentina), Balanz Capital Valores, Allaria, Banco Patagonia, Max Capital, Puente Hnos., Banco Comafi, TPCG Valores and Invertir en Bolsa as placement agents.

TCA Tanoira Cassagne’s team was led by partners Alexia Rosenthal and Jaime Uranga, with associates Lucia Viboud Aramendi, Carolina Mercero and Alejo Medici Raymundi.