15.2 Billion Argentine Peso Offering by Province of Buenos Aires

Cleary Gottlieb represented long-time client the Province of Buenos Aires, a province of the Republic of Argentina, in its global offering of ARS15.2 billion notes due 2022.

The transaction consisted of an offering to the public in Argentina and a Rule 144A/Regulation S offering outside of Argentina. 

The offering of the notes, for which BBVA, HSBC and Santander served as joint bookrunners for the international portion and Banco de la Provincia de Buenos Aires, BBVA, Banco Galicia, Santander and HSBC acted as local co-managers for the local portion, priced on May 23, 2017, and closed on May 31, 2017. The transaction constituted the Province’s first international offering of Argentine Peso-denominated bonds governed by Argentine law.