Marval counsels on creation of Ceibo Créditos financial trust

Argentinian law firm Marval, O’Farrell & Mairal acted as legal adviser in the creation of the Ceibo Créditos I financial trust, and in the issuance of trust debt securities for a total of 71.4 million pesos ($1.8 million).

The transaction was carried out under the Ceibo Créditos program, which securitizes personal loans secured by promissory notes.

The issuance included trust debt securities for 41.7 million pesos ($1.09 million) and certificates of participation for 29.6 million pesos ($773,651).

Ceibo Créditos acted as settlor and administrator, while Buenos Aires-based Cohen acted as trustee, arranger, and underwriter.

The transaction was authorised for public offering by the Argentine Securities and Exchange Commission and is listed in Bolsas y Mercados Argentinos and Mercado Abierto Electrónico.

Marval, O’Farrell & Mairal partner Juan M. Diehl Moreno and associates Sergio Tálamo, and Jacqueline Berkenstadt acted as legal adviser for Ceibo Créditos, while Soledad Belinco and Alvaro Catalá acted as in-house counsel to Cohen.