11 Dic 24 Cerolini & Ferrari advised Latitud 45 Petróleo y Gas S.A in its second issuance of notes.
By Agustín L. Cerolini, Martín Chindamo and Valentina Circolone
Cerolini & Ferrari Abogados advised Latitud 45 Petróleo y Gas S.A. (‘Latitud’) in its second issuance of notes under the Régimen PyME CNV Garantizada for a value of U$S 3,500,000 (the ‘Notes’).
Latitud is a company dedicated to the provision of pumping services (cementing, stimulation and coiled tubing) for drilling, completion, workover and abandonment of wells in conventional and unconventional oil and gas fields. It was founded in 2013 by executives with more than 20 years of experience in the Oil & Gas industry. Its client portfolio includes the main oil and gas field operating companies in Argentina.
In this context, on December 10th, 2024, Latitud issued Series II Class I of Notes for a value of U$S2,722,777,777 maturing in December 2026, at a variable rate with a cut-off margin of 8.50%; and Series II Class III of Notes for a value of UVAs 646. 564 maturing in December 2026 at a fixed annual nominal rate of 8.19%.
The offering was directed to the local market and the Notes have been authorized for listing and trading on the Mercado Abierto Electrónico S.A. (MAE) and Bolsas y Mercados Argentinos S.A. (ByMA).
Banco de Servicios y Transacciones S.A., Banco Mariva S.A. and Banco Supervielle S.A. acted as arranger and placement agents of the Notes. In addition, Banco de Servicios y Transacciones S.A., Banco Mariva S.A., Banco Supervielle S.A. and Fid Aval S.G.R. acted as guarantor of Notes.
In-house counsel to BST
Ana Vea Murguia and Melina Lozano
In-house counsel to Banco Mariva
María Eugenia Ataefe and Pablo Augusto Antao
External legal advisors to Latitud, BST, Banco Mariva, Banco Supervielle and Fid Aval.
Cerolini & Ferrari Abogados
Partner Agustín L. Cerolini and associates Martín Chindamo and Valentina Circolone.