Argentine wind farm operator Luz de Tres Picos has raised US$77.5 million in an offering of green bonds to fund the construction of two wind farms.

Industrial and Commercial Bank of China, Banco Itau Argentina, Banco de Galicia y Buenos Aires, Banco BBVA Argentina, Banco Santander Argentina, Itau Valores and Nacion Bursatil acted as placement agents.

The company sold US$62.5 million of Series 3 notes and US$15 million of Series 2 notes, which qualify as green bonds. The notes were issued under Luz de Tres Picos´ US$150 million (or its equivalent in other currencies) Global Notes Programme.

Bruchou, Fernandez Madero & Lombardi advised Luz de Tres Picos, while Tanoira Cassagne Abogados advised the placement agents.

The notes were issued in line with the four main components of the International Capital Market Association’s Green Bond Principles, and following the guidelines for the issuance of social, green and sustainable marketable securities in Argentina, and the provisions of the social, green and sustainable bonds guide of the Bolsas y Mercados Argentinos (ByMA).

The notes have been authorized for listing on ByMA’s green panel and for negotiation on Mercado Abierto Electrónico.

Luz de Tres Picos is a unit of Argentine oil and gas producer Petroquimica Comodoro Rivadavia.