Milbank’s Global Leveraged Finance group represented the lead arrangers in the US$450 million and AR$2,205 million syndicated secured bridge loan facility to finance in part Pampa Energía S.A.’s acquisition of approximately 67% stake in Petrobras Argentina S.A. from Brazilian state-run oil company Petroleo Brasileiro S.A. (Petrobras). This financing was provided in connection with one of Argentina’s largest acquisitions in recent years. Milbank’s Global Capital Markets group also advised the deal managers in connection with Petrobras Argentina S.A.’s US$500 million 7.3575% bonds due 2023 issued in order to tender the company’s existing $300 million 5.875% bonds due 2017 in connection with the acquisition.
The Milbank deal team was led by Global Capital Markets partner Carlos Albarracín and Leveraged Finance partner Mike Bellucci and included Leveraged Finance associates Laura Larsen and Dan Gentel and Global Capital Markets associates Matt Kusel, Don Canavaggio and Felipe Camara. The team also included Tax partner Andrew Walker, special counsel Eschi Rahimi-Laridjani and associate Jules Mugema, Environmental partner Matt Ahrens. Partner Dara Panahy and associates Bijan Ganji and Lafayette Greenfield provided regulatory advice on the transactions.
