DLA Piper advises on AR$69.9 billion Province of Río Negro Treasury Bills issuance

DLA Piper acted as legal counsel on the issuance of Series I Treasury Bills by the Province of Río Negro, Argentina, for an aggregate amount of AR$69,895,900,000.

The issuance was completed under the Province’s Treasury Bills Issuance Program for 2026. The Treasury Bills mature on September 24, 2027, and will accrue quarterly interest at a variable nominal annual rate equal to the TAMAR Rate plus a 7.00% margin.

The Treasury Bills are secured with funds from the Federal Tax Co-Participation Regime.

Banco Patagonia S.A. acted as Arranger and Placement Agent, while Banco de Servicios y Transacciones S.A., Banco Nación, Puente Hnos. S.A., Macro Securities S.A.U., Banco Hipotecario S.A., BACS Banco de Crédito y Securitización S.A. and Balanz Capital Valores S.A.U. participated as Sub-Placement Agents.

DLA Piper acted as deal counsel, advising the Province of Río Negro, the Arranger and Placement Agent and the Sub-Placement Agents.

The firm’s team included partner Justo Segura, associates Federico Vieyra, Ignacio Comparato and Martina Mastandrea, and paralegal Maia Klein, all based in Buenos Aires.

Key facts

• Issuer: Province of Río Negro

• Instrument: Series I Treasury Bills

• Amount: AR$69,895,900,000

• Maturity: September 24, 2027

• Interest rate: TAMAR + 7.00% nominal annual rate

• Interest payments: quarterly

• Security: funds from the Federal Tax Co-Participation Regime

• Arranger and Placement Agent: Banco Patagonia S.A.

• Deal counsel: DLA Piper

• Partner: Justo Segura