Argentina’s Petroquímica Comodoro Rivadavia issues $50m in debt

Argentine petrochemical company Petroquímica Comodoro Rivadavia has issued Series H notes for an amount totaling $50 million under the so-called frequent issuer regime.

Posted Friday, January 14th 2022
Argentina’s Petroquímica Comodoro Rivadavia issues $50m in debt

The Serie H Notes have been authorized for listing on the BYMA stock exchange, and for their negotiation on the Mercado Abierto Electrónico (MAE).

Petroquímica Comodoro Rivadavia is a privately-held company founded in 1921, based in Buenos Aires. It operates in the areas of oil and gas exploration and production, cement production and distribution, and renewable power generation.

The company’s operations are concentrated in Argentina's Neuquén basin, Ecuador's Oriente basin, and Colombia's Magdalena basin. Its cement segment operates in Argentina, Chile and Ecuador. The company has also entered the renewable energy segment, having developed its first wind farm, the 126MW Bicentenario, and is currently building a second one, the 200MW Mataco & San Jorge.

Argentine law firm Bruchou, Fernández Madero & Lombardi advised Petroquímica Comodoro Rivadavia on the issuance, with a team led by partner José María Bazán and associates Manuel Etchevehere and Delfina Calderale.

Petroquímica Comodoro Rivadavia’s in-house legal counsel was Mariano Juarez Goñi, Florencia Fridman and Anabela Mengoni.

Banco Santander Río, Banco de Galicia y Buenos Aires, Banco BBVA Argentina, Banco de Servicios y Transacciones, Balanz Capital Valores, Banco Itaú Argentina, TPCG Valores, Industrial and Commercial Bank of China, Itaú Valores, Max Capital, Allaria Ledesma & Cía and AR Partners acted as placement agents.

Tanoira Cassagne Abogados acted as counsel to the placement agents, with a team comprising partners Alexia Rosenthal and Jaime Uranga, and who were assisted by associates Rocío Carrica, Pilar Domínguez Pose, Rodrigo Cordoba and Carolina Mercero.

The in-house counsel of the placement agents were, for Banco Santander, Eduardo Ramos, Ignacio Garcia Deibe and Clarisa Prado; for Banco de Galicia y Buenos Aires, Enrique Cullen, Fernan Pereyra de Olazabal and Patricia Araujo; for  Banco BBVA Argentina, María Gabriela Mancuso and María Dolores Distefano; for Banco de Servicios y Transacciones, Ana Vea Murguía.

The in-house counsel for Balanz Capital Valores were Ana Paula Dandlen and Luciano Taraciuk, while for Banco Itaú Argentina and Itaú Valores the in-house counsel was Leonardo A. Micucci.

TPCG Valores’ in-house counsel was Jorge Alvarez de la Viesca, Diego Graziosi and Mariana Echeverría, while for Industrial and Commercial Bank of China the in-house lawyers were Matías Filippo and Luciana Vásquez, and for Max Capital, Ignacio Méndez, and for Allaria Ledesma & Cia., Ezequiel Politi.