Argentina: Bruchou & Funes de Rioja advised in the issuance of Notes and Class 2 Notes of Oleoductos del Valle S.A.

Published on Jun 29, 2023

Bruchou & Funes de Rioja advised Oleoductos del Valle S.A in the successful issuance of: (i) the Additional Class 1 Notes for an amount of US$21,160,980 (Dollars twenty-one million one hundred sixty thousand nine hundred eighty) in addition to the class 1 notes originally issued by the Company on April 18, 2023, with a fixed rate of 0.00% maturing on April 18, 2026 and an above par price of 121,5% (the "Additional Class 1 Notes") and (ii) the Class 2 Notes for an amount of US$43,324,070 (Dollars forty-three million, three hundred and twenty-four thousand, seventy) with a rate of 1.00%, maturing on June 9, 2028 (the "Class 2 Notes" and together with the Additional Class 1 Notes, the "Notes").

The proceeds from the placement will be used mostly to partially finance infrastructure works, mainly related to the Duplicar Project, which consists of a project to expand Oldelval's transportation capacity that includes: (i) the laying of approximately 525 km of pipelines along Rio Negro, La Pampa and Buenos Aires; (ii) the repowering of pumping stations; and (iii) the replacement of the section in the Bahía Blanca area. This will allow, once the work is completed, to increase the country's oil exports between approximately 180,000 and 250,000 barrels/day.

Legal counsel to Oleoductos del Valle S.A.

Bruchou & Funes de Rioja: Partner José María Bazán and associates Leandro Belusci, Josefina Mortola Saiach and Sofía Maselli.