Represents the third legal responsibility administration transaction by a province in Argentina after the sovereign’s default
Linklaters suggested the Province of Río Negro within the solicitation of consents to restructure its excellent US$300 million 7.75% Notes due 2025.
Holders representing 96.23% of the mixture principal quantity of the notes delivered their consents, which allowed the applying of the collective motion clauses within the indenture to switch all notes.
The Province of Río Negro has change into the third Argentine province, after the Province of Mendoza and the Province of Neuquén transactions on which we suggested the vendor managers, following the sovereign’s default, to restructure its bonds this yr.
The Linklaters crew was led by companion Conrado Tenaglia alongside counsel Alejandro Gordano and Matthew Brigham (Tax), affiliate Stephanie Torres and international attorneys Monica Perez-Banuet Farell and Juan Mata.