DLA Piper Argentina advises on the issuance of new Treasury Notes by the Province of Chubut

DLA Piper advised the Province of Chubut (the Province) on the issuance of Series CV Treasury Notes Class 1 and 2 and Series CVI Treasury Notes Class 1 and Class 2 for a total aggregate amount of AR$6,291,032,249 under the Province's Treasury Notes Issuance Program.

The Series CV Treasury Notes Class 1 and Class 2 mature on August 22, 2023, and October 20, 2023, respectively. Principal is payable entirely at maturity and accrue interest for the Series CV at the greater of (i) a fixed annual nominal rate; and (ii) the sum of the BADLAR rate plus a fixed margin determined in the bidding process.

The Series CVI Treasury Notes Class 1 and Class 2 mature on September 22, 2023, and November 23, 2023, respectively. Principal is payable entirely at maturity and accrue interest for the Series CV at the greater of (i) the sum of the BADLAR rate plus a fixed margin determined in the bidding process (ii) the nominal value of the issuance divided by the Initial Exchange Rate plus a nominal annual interest rate of 1.5 percent and multiplying the result by the Final Exchange Rate minus the nominal value.

DLA Piper Argentina advised the Province of Chubut through partner Justo Segura and associates Federico Vieyra and Marcelo Ra (all of Buenos Aires).

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