Bomchil and Milbank LLP advised CGC and Bruchou & Funes de Rioja and Davis Polk & Wardwell advised the co-managers and placement agents in the success issue of CGC's additional class 38 negotiable bonds for a nominal value of US$200,000,000.
Compañía General de Combustibles S.A. ("CGC”) successfully completed the international offering of its Additional Class 38 notes for a nominal amount of US$200,000,000, denominated and payable in U.S. dollars, bearing a fixed annual interest rate of 11.875% and maturing in November 2030 (the “Notes”).
CGC is a leading independent company in the oil and gas industry, with activities that include the exploration, production, and development of hydrocarbon fields.
The Notes were issued on May 11, 2026 and placed in the international market pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933. The proceeds from the placement of the Notes will be used for the payment or refinancing of existing financial indebtedness.
The Notes will have the same terms and conditions (except with respect to the date of issuance and the initial issuance price) as the Class 38 notes issued on November 28, 2025, constituting a single series with the indenture dated November 28, 2025, among CGC, as issuer, The Bank of New York Mellon, as trustee ("indenture trustee"), registrar, paying agent and transfer agent, and Banco Santander Argentina S.A., as registrar, paying agent, transfer agent and the representative of the indenture trustee in Argentina.
Balanz Capital Valores S.A.U., Banco de Galicia y Buenos Aires S.A., Banco Santander Argentina S.A., Cucchiara y Cía. S.A., Industrial and Commercial Bank of China (Argentina) S.A.U., Latin Securities S.A., Macro Securities S.A.U., and One618 Financial Services S.A.U., acted as argentine placement agents (the “Argentine Placement Agents”).
The Notes were listed on the Bolsas y Mercados Argentinos S.A. and admitted for trading in A3 Mercados S.A.
Counsel to CGC:
Regarding the laws of New York, United States:
Milbank LLP: Partners: Adam Brenneman. Special Counsel: Gonzalo Guitart. Associates: Pamela Molina.
Regarding the laws of the Argentine Republic:
Bomchil: Partners: Fermín Caride and María Victoria Tuculet. Associates: Francisco Diskin and Lourdes María Aguirre. Paralegal: Delfina Tais Garagorry Ielpi.
Counsel to the Advisors to the International Initial Purchasers, International Co-Managers, Argentine Placement Agents, and Global Settlement Agent:
Regarding the laws of New York, United States:
Davis Polk & Wardwell: Partner: Maurice Blanco. Counsel: Drew Glover. Foreign Temporary Associate: Caio Moliterno de Morais.
Regarding the laws of the Argentine Republic:
Bruchou & Funes de Rioja: Partners: José Bazán and Leandro E. Belusci. Associates: Quimey Lía Waisten and Victoria Negro.