Oilstone Energía obtains syndicated loan worth US$12 million.
PRESS RELEASE
Buenos Aires, August 5th, 2019. Banco Santander Río S.A., acting as lender, arranger, and administrative agent; together with Banco de la Ciudad de Buenos Aires, acting as lender, arranger, and collateral agent; and BBVA Banco Francés S.A., acting as lender and arranger, granted a loan to Oilstone Energía S.A. worth US$12 million. The deal involved the negotiation and drafting of a syndicated loan and a security assignment of contractual rights.
The company will use proceeds from the facility to finance investment projects, including the acquisition of 100% of the rights over the areas identified as Sur de la Dorsal, Anticlinal Campamento, Dos Hermanas y Ojo del Agua, including exploitation titles for those concessions, titles for inventories, oil wells and facilities, current contracts, licenses and permits, with a view to increasing the production in the energy sector in the province of Neuquén.
Counsel to the lenders
Beccar Varela: team led by partner Maximiliano D’Auro, with the participation of associates Gonzalo J. Ochoa, Lucía Degano, Andrés Schreiber and Belén M. Astelarra.