#Argentina #Tender Offer #Córdoba #Existing Notes

Recent Financial Update from Córdoba Province

On February 2, 2026, the Province of Córdoba, located in Argentina, made an important announcement regarding the purchase of existing notes as part of its financial management strategy. The Province reported that an aggregate principal amount of U.S.$33,533,562 in existing notes has been validly tendered and accepted for purchase in accordance with a previously announced cash offer. This significant amount reflects the Province's proactive approach to managing its debt obligations while ensuring continued financial stability.

Details of the Offer

The offer, which commenced on January 23, 2026, was aimed at tendering existing notes from registered holders or beneficial owners. According to the announcement, the purchase price for the accepted notes is standardized at U.S.$1,000 per every U.S.$1,000 principal amount. Holders of the existing notes will also receive accrued interest, adding value to their investment by compensating them for interest accumulated since the last payment date up to the settlement date.

This strategic financial move is conditioned on the successful completion of a concurrent offering of 8.600% Notes due in 2035, aimed at generating adequate funds to facilitate the cash purchase of the accepted notes. The conditions outlined in the offer document emphasize the importance of a well-coordinated and balanced approach to financial operations.

Financial Highlights

The tendered amount of U.S.$33,533,562 reflects a comprehensive calculation that takes into account the amortization factor applied to the original principal sum of the existing notes, which totals U.S.$44,711,416 prior to adjustments. It's important to note that the outstanding principal amount of the existing notes remains at approximately U.S.$116,826,096.75 following the acceptances from this tender offer.

The successful completion of this transaction is anticipated on the Settlement Date, February 3, 2026, subject to the fulfillment of all conditions. Investors participating in the offer will be notified accordingly and will benefit from both the agreed purchase price and any applicable accrued interest.

Investor Engagement

To facilitate this process, Morrow Sodali Limited, operating under the name Sodali Co, will serve as the information and tender agent for the offer. Interested parties can access the offer document online, ensuring that all engaged investors are kept up-to-date and informed of the procedural requirements.

Additionally, J.P. Morgan Securities LLC and Santander US Capital Markets LLC are designated dealer managers assisting with the offering, enabling a smooth flow of information and addressing any inquiries related to the financial offering.

Conclusion

In summary, the Province of Córdoba's recent announcement underscores a crucial step in its fiscal management, recognizing the significance of streamlining its debt portfolio while addressing investor interests. As the financial landscape continues to evolve, such measures not only highlight Córdoba’s commitment to responsible financial practices but also set a stable foundation for future growth and investment viability.