We advised PECOM on its access to the public offering regime and the issuance of series I and II notes
PECOM SERVICIOS ENERGÍA S.A.U. (“PECOM”) is a company engaged in oil production, engineering project execution, and the provision of comprehensive solutions for the hydrocarbon, electric energy, and mining industries, with operations in Argentina, Brazil, Colombia, and Uruguay.
Mitrani Caballero advised PECOM on its access to the public offering regime in 2024 and on the establishment and subsequent update of a global notes issuance program, with a maximum aggregate nominal value of up to US$100,000,000 (or its equivalent in other currencies or value units).
As part of this process, Mitrani Caballero also advised PECOM on its inaugural issuance of notes in the Argentine capital market, completed on March 10, 2025. In this transaction, PECOM issued Class I notes, denominated, subscribed, paid, and payable in US dollars in Argentina, at a fixed annual nominal interest rate of 7.90%, maturing on March 10, 2029, for a nominal value of US$29,887,257, under the aforementioned global program.
Banco de Galicia y Buenos Aires S.A.U. and Banco Santander Argentina S.A. acted as Organizers and Placement Agents for the Class I notes, while Balanz Capital Valores S.A.U. and Industrial and Commercial Bank of China (Argentina) S.A.U. acted as Placement Agents.
Subsequently, Mitrani Caballero assisted PECOM with the issuance of the second tranche under the program. On June 2, 2025, PECOM issued Class II notes, also denominated, subscribed, paid, and payable in US dollars in Argentina, at a fixed annual nominal interest rate of 7.5%, maturing on June 2, 2027, for a nominal value of US$30,169,157.
Banco de Galicia y Buenos Aires S.A.U. and Banco Santander Argentina S.A. acted as Organizers and Underwriters for the Class II notes. Banco Patagonia S.A., Balanz Capital Valores S.A.U., Banco Supervielle S.A., Industrial and Commercial Bank of China (Argentina) S.A.U., Option Securities S.A., Invertironline S.A.U., Cocos Capital S.A., Banco de la Provincia de Buenos Aires, Banco Comafi Sociedad Anónima, Facimex Valores S.A., SBS Trading S.A., and Neix S.A. acted as Underwriters in this issuance.
Mitrani Caballero’s team provided comprehensive advice on the structuring, documentation, and regulatory aspects of each tranche, ensuring compliance with legal requirements and supporting PECOM throughout every stage of the process.
The Class I and Class II notes will be authorized for listing and trading on Bolsas y Mercados Argentinos S.A. through the Buenos Aires Stock Exchange, and for trading on A3 Mercados S.A.
The transaction was led by our partner Siro Astolfi, together with associates Melina Goldberg, Carolina Wetzler, and Santino Giannuzzi
By advising on both Series I and Series II issuances, Mitrani Caballero has further strengthened its track record in the energy sector and demonstrated its ability to handle repeat, high-value mandates for major clients. This experience not only reinforces the firm’s expertise in capital markets and finance but also highlights the trust that leading companies such as PECOM place in its team for their most significant transactions.
