05 Dec 2025

Linklaters Advises Initial Purchasers on City of Buenos Aires Return to International Capital Markets with US$600m Notes

"Linklaters advised the initial purchasers of the City of Buenos Aires on a US$600 million issuance of 7.800% notes due 2033 under the city's Medium-Term Note Program, listed on the Luxembourg Stock Exchange, marking the city's return to international capital markets after nine years."

Linklaters advised the initial purchasers of the City of Buenos Aires in connection with the city's international bond issuance. The transaction comprised a US$600 million issuance of 7.800% notes due 2033 under the City of Buenos Aires' Medium‑Term Note Program, listed on the Luxembourg Stock Exchange. The landmark deal marks the city's return to international capital markets after a nine‑year hiatus and represents a significant milestone for Argentine sub‑sovereign issuers. The issuance is the latest in a run of debt capital markets transactions on which Linklaters has advised in Argentina over the past year, including offerings by Pan American Energy, Vista Energy Argentina, Tecpetrol, Arcor, Banco Macro and Telecom Argentina. The work on this matter spanned Linklaters offices in New York, London, São Paulo and Luxembourg. Linklaters represented the initial purchasers with a team composed of: Corporate Finance Partners Matthew Poulter and Emilio Minvielle; Capital Markets Partner Arjun Muddu; Capital Markets Partner Nicki Kayser; Managing Associates Tilak Shah and Joshua Rioda and Associate Declan McGrath (Capital Markets); Managing Associate Laura Mbo and Consultant Delphine Horn (Capital Markets and Banking); Corporate Finance Associates Madeleine Bléhaut and Thomas Thiphaine‑Koffman and Foreign Attorney Francisco Algorta; and Tax Partner Gabriel Grossman and Associate Young Jin Kim.
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