On August 2, 2001, Pérez Alati, Simpson Thacher & Bartlett, Hughes Hubbard & Reed and White & Case closed the establishment of a US$70 million letter of credit-backed US commercial paper programme for Banco General de Negocios SA.
PeCom Energía SA has issued US$220 million Medium-Term Floating Rate Notes, Series C, due July 20, 2005.
Pérez Alati, Grondona, Benites, Arntsen & Martínez de Hoz (h), together with Simpson Thacher & Bartlett and White & Case LLP, have acted in the establishment of a LC-backed US commercial paper programme worth US$150 million for HSBC. The participants in the transaction were HSBC Bank USA, as issuer, Chase Manhattan Bank, as administrative agent, and JP Morgan Securities Inc together with HSBC Securities (USA) Inc, as arrangers.
Electronics multinational Philips has completed its acquisition of Agilent´s healthcare division following approval by the European Commission and US antitrust authorities. The deal closed on August 1.
In response to the shrinking of public sector funds and available credit, a 'zero deficit' bill was presented by the government and passed without amendment by Congress on July 30.
In a deal worth US$ 255 million, TotalFinaElf, represented by Pérez Alati, Grondona, Benites, Arntsen & Martínez de Hoz (Jr), acquired a controlling interest in Central Puerto, the largest thermal generator in Argentina. The transaction was concluded on July 27, 2001.
Bruchou, Fernández Madero, Lombardi & Mitrani has acted as legal counsel to Southern Cross Group and Merrill Lynch Global Emerging Markets Partners LP in the sale of 100 per cent of the capital stock of Armor Acquisition SA.
First Trust of New York, through its permanent representative office in Argentina, has retained Cárdenas, Cassagne & Asociados for the creation of two financial trusts, Hexagon II and Hexagon III, and the issuance of floating rate certificates of participation at US$300 million and US$325 million respectively, with First Trust acting as trustee.
Microsoft Corporation has appointed Buenos Aires firm Allende & Brea as regional legal manager of its ‘bCentral’ project in Latin America and the Caribbean. Allende & Brea will be responsible for the project’s tax and corporate structures, preparation of licence, distribution and other operating agreements; protection and management of certain trademarks, domain names and intellectual property; and the legal review of strategic alliances.
The Buenos Aires law firm Alfaro-Navarro, which had been widely seen as a