Shearman And Sterling

News Jan 27, 2021

The Province of Córdoba’s $1.67 Billion Debt Restructuring

Shearman & Sterling advised Argentina’s Province of Córdoba and Banco de la Provincia de Córdoba on the successful restructuring of approximately $1.67 billion of the Province’s outstanding aggregate U.S. dollar-denominated international bonds, comprised of $709 million 7.125 percent notes due 2021, $510 million 7.450 percent notes due 2024 and $450 million 7.125 percent notes due 2027. The Province obtained the requisite consents from holders representing 96.29 percent of the aggregate principal amount of the notes to modify and substitute all of the notes pursuant to the terms of the consent solicitation.

HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC served as consent solicitation agents.

The Shearman & Sterling team below also included visiting attorney Pedro de Elizalde and former visiting attorney Sofia Gallo.

The Team

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