Córdoba secures US$120 million in financing and approves FAdeA budget

The City of Córdoba has secured US$120 million in financing, with the Province of Córdoba acting as guarantor. Structured by Deutsche Bank AG, the funds are primarily intended for the administration, refinancing, and cancellation of existing local and international financial liabilities. This includes the early cancellation of Step-Up International Debt Securities maturing in 2027. The four-year loan features a two-year grace period for capital amortization, with semi-annual interest and principal payments following the grace period, governed by New York State law.

Separately, Argentina's Ministry of Economy has approved the 2026 Action Plan and Budget for the Argentine Aircraft Factory (FAdeA), located in Córdoba. The budget projects operating revenues of approximately $135,090 million against operating expenses of $149,610 million, resulting in an operating deficit of $14,520 million. However, when including current transfers from the National Administration, the projected economic result turns into a surplus of $147.3 million. The final financial result, including capital movements, is expected to reach a surplus of $104.2 million. The plan accounts for a workforce of 705 employees.