Pérez Alati, Grondona, Benites & Arntsen (“PAGBAM”) advised Banco Santander Argentina on the granting of a bilateral loan, under Argentine law, to the Province of Mendoza (the “Province”), in the amount of ARS 23,035,981,419 (twenty-three billion thirty-five million nine hundred eighty-one thousand four hundred nineteen pesos), equivalent to approximately USD 17.47 million at the exchange rate in effect on the closing date.
The funds will be used to finance stages III and IV of the Metrotranvía of Mendoza, an electric light rail system that connects the main urban areas of Greater Mendoza and significantly contributes to the reduction of pollutant gas emissions. The project presents clear environmental and social benefits and may qualify as a Green Loan in accordance with applicable international principles and eligibility criteria.
The loan is secured with resources from the federal revenue-sharing regime established by Law No. 23,548.
The transaction closed on August 13, 2025.
Legal advisors to the Province of Mendoza:
Legal Affairs Director of the Ministry of Finance: Nicolás Egües.
Legal advisors to Banco Santander Argentina:
In-house legal team: Lucía Vidaña and Emilio Díaz Reynolds.
Pérez Alati, Grondona, Benites & Arntsen: partner Diego Serrano Redonnet, counsel Nicolás Aberastury, and associate Juan Cruz Carenzo.
