DLA Piper advises Edenor on the issuance of notes for a total amount of approximately US$100 million

DLA Piper advised Empresa Distribuidora y Comercializadora Norte S.A. (Edenor), the largest electricity distributor in Argentina in terms of number of customers and electricity sold, in the successful issuance of both class 5 notes and class 6 notes.

The class 5 notes wereintegrated in US Dollars and/or in kind through the delivery of Class 2 Notes, denominated and payable in USDollars, for an amount of approximately US$82 million, at an annual fixed rate of 9.50% with semi-annually interest payments. The class 6 notes, denominated and payable in Argentine Pesos, for an amount of approximately AR$17 million, which bear a variable interest rate corresponding to the sum of the ‘Badlar Privada’ Rate and a 7.00% margin and quarterly interest payments.

Edenor will allocate the entire net proceeds from the issue to invest in infrastructure projects, including the development and implementation of the Issuer's investment plan, which provides for works to improve, expand and modernize the infrastructure of its networks, which include new supplies, transmission, subtransmission, distribution and improvements in high, medium and low voltage networks.

The DLA Piper team that advised Edenor included managing partner Marcelo Etchebarne and partner Alejandro Noblia, and associates Federico Vieyra and Marcelo Ra (all of Buenos Aires).

DLA Piper in Latin America's Team offers full-service business legal counsel to domestic and multinational companies with interests in and operations throughout the region. Our integrated approach to serving clients combines local knowledge with the resources of the DLA Piper global platform. With over 450 lawyers practicing throughout Argentina, Brazil, Chile, Mexico, Peru, and Puerto Rico, in addition to our US-based cross-border attorneys, our teams frequently work with our professionals throughout the LatAm region, Iberian Peninsula, and around the globe. DLA Piper’s global platform of 90+ offices in more than 40 countries enables us to serve all our clients’ legal and business needs, whether they are based in Latin America or wish to do business there. For more information, visit Latin America | DLA Piper.