Argentina’s Petrolera Aconcagua Energía issues $5.76m in debentures

Argentine energy company Petrolera Aconcagua Energía has issued Class III and Class IV SME CNV debentures for a nominal amount of $2.25 million and $3.51 million respectively.

Posted Monday, May 17th 2021
Argentina’s Petrolera Aconcagua Energía issues $5.76m in debentures

The CNV Class III fixed-rate notes were for a nominal amount of $2,258,700, while the Class IV SME CNV were for 330,957,446 Argentine pesos ($3.51 million).

These issuances are part of the global program for the issuance of CNV SME negotiable obligations for a maximum amount of up to $900 million, and will mature on April 19th, 2024.

The notes were issued for the company’s purpose of carrying out investments in physical assets and capital goods located in the country, including investments in production infrastructure and integral oil and gas developments.

Petrolera Aconcagua Energía is dedicated to the exploration and extraction of hydrocarbons and has a number of active projects in Argentina, including the Puesto Pozo Cercado oil field in Mendoza, which currently has production of around 314 barrels per day.

Atuel Norte, also in Mendoza, produces some 26 barrels per day, while its Catriel Oeste deposit in Río Negro produces 566 barrels per day of crude and 38 barrels per day of gas. The company also operates three other oil and gas fields in Río Negro.

Argentine law firm Tavarone, Rovelli, Salim & Miani acted as legal counsel to Petrolera Aconcagua Energía, with a team led by partner Federico Salim, and who was assisted by associates Matías D. Otero and Gonzalo Joaquín Caceres.

Banco de Servicios y Transacciones acted as arranger and underwriter, and Banco Supervielle, Banco Mariva, SBS Trading, Consultatio Investments, Allaria Ledesma & Cia and AdCap Securities Argentina S.A. acted as underwriters.