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A&O Shearman advises banks on Argentina's Chubut USD650 million secured notes and tender offer

A&O Shearman advises banks on Argentina's Chubut USD650 million secured notes and tender offer
Published Date
May 4 2026
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Image of Alejandro Gordano
Alejandro GordanoPartner, New York
Image of Gonzalo Robles
Gonzalo RoblesAssociate, New York
Image of Lorenz Haselberger
Lorenz HaselbergerPartner, New York
Edgardo Martinez GastelumLaw Clerk, New York
A&O Shearman advised the initial purchasers and dealer managers in the Province of Chubut’s offering of USD650m 9.450% Secured Amortizing Notes due 2036 and concurrent offer to purchase for cash its BOCADE notes due 2030, marking the province’s first return to international capital markets since 2016. The notes are secured by certain hydrocarbon royalties.

The Province of Chubut intends to use the proceeds to purchase the BOCADE notes and to finance public work projects.

The transaction extends A&O Shearman’s track record on Argentine capital markets matters, including advising longtime client, Argentina’s Province of Cordoba, in two recent notes offerings for a total of USD1.525 billion, the initial purchasers in Tecpetrol’s USD750m notes offering, Arcor’s USD350m notes offering, the Province of Santa Fe’s USD800m notes offering and the Province of Entre Rios’s USD300m notes offering.

“We are pleased to continue supporting Argentine issuers in the international markets. Across sectors—from energy and infrastructure to confectionery and quasi-sovereigns—we bring the cross-border expertise needed to navigate complex international offerings.”

The A&O Shearman team was led by New York-based capital markets partner Alejandro A. Gordano and included capital markets associate Gonzalo Robles and paralegal Anika Pemmaraju, as well as tax partner Lorenz Haselberger and tax associate Edgardo Martinez Gastelum.

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