Counsel to Roch S.A. in a consent solicitation process for the release of proceeds for an amount of AR$266,094,000 to be applied under the joint venture agreement Unión Transitoria Río Cullen, Las Violetas, La Angostura (Cuenca Austral – Tierra del Fuego Province)and for increasing the interest rates for the periods between June and December 2023, from 6.5% to 7% per annum for the US Dollar denominated debt and the margin under the Peso denominated debt from 12% to 12,5% per annum.
The transaction was conducted within the framework of the company’s judicial insolvency proceeding and allowed Roch to obtain the consents from 81.07% of the holders of the series 1 secured notes for US$16,261,578; 100% of the holders of the private secured note for US$3,413,694; and 100% from the lenders under financial loans Banco Itaú Argentina S.A., Banco de la Ciudad de Buenos Aires and Banco de Tierra del Fuego for US$9,149,905.