#Argentina #Tender Offer #Córdoba #Step-Up Notes #Córdoba Province

Córdoba Province Announces Cash Tender Offer Results

On January 30, 2026, the Province of Córdoba, Argentina, revealed important updates regarding its recent cash tender offer for U.S. Dollar Step-Up Notes, due in 2027. This announcement detailed the aggregate principal amount of these notes that have been validly tendered, reflecting significant investor interest and strategic financial maneuvers.

Overview of the Tender Offer

The tender offer, aimed at purchasing existing notes from registered holders, was officially communicated to stakeholders through an offer document released on January 23, 2026. This documentation outlined the conditions and key dates involved, making it transparent for investors to understand the implications and processes of the tender.

Tender Amounts and Conditions

As the expiration time approached, the Province has confirmed the tendered amounts, showing a robust participation from the holders of these notes. Specifically, the principal amount tendered reached U.S. $33,533,562, corresponding to 28.70% of the outstanding aggregate principal amount, which hovers around U.S. $116,826,096.75. This reflects a calculated amortization factor which is set at 0.75 for the original amount.

Financial Implications

At the center of this announcement is the purchase price, which stands at U.S. $1,000 per U.S. $1,000 principal amount tendered. Additionally, investors will receive accrued interest, which can enhance returns on their investments. The settlement of this transaction is anticipated around February 3, 2026, heralding a new phase in the Province's financial agreements involving public debt instruments.

Path Forward

Holders of the validly tendered notes will be informed on February 2, 2026, regarding the final decision on accepting tenders. This will include announcements on the total aggregate purchase amount and any necessary proration factors of the existing notes. It is noteworthy that the acceptance of tendered notes may hinge on the concurrent closing of a new notes offering, further demonstrating the interconnected nature of such financial transactions.

Furthermore, the Province explicitly reserves the right not to accept any offers to tender existing notes, emphasizing the discretionary nature of such financial decisions.

Role of Advisory Firms

To facilitate the tender offer, the Province has enlisted the help of Morrow Sodali Limited, functioning as the information and tender agent. They play an essential role in managing inquiries and providing relevant materials for prospective investors.

The document emphasizes that no solicitations for the new notes offering are made via this announcement, instead placing the focus on the transparency of the tender process and the associated risks involved in these investment decisions.

Conclusion

The Province of Córdoba's announcement regarding its cash tender offer results underscores a strategic financial initiative reflective of broader fiscal management practices. As they navigate these waters, stakeholders will be paying close attention to the outcomes of the tendering process and its implications on future financial operations.

Investors who have questions or need assistance regarding the tender documents can reach out to the designated dealer managers or the advisory teams overseeing this initiative. As we await further announcements, the developments in Córdoba’s financial dealings will certainly be a topic of interest in investment circles.