TCA acts in new issue of Payway
Tanoira Cassagne Abogados has acted as deal counsel in the issuance of the trust, ‘PAYWAY COBRO ACELERADO SERIE III’ for a nominal value of $9.861.867.095.
The issue was made under the ‘PAYWAY’ Global Trust Securities Programme for a maximum outstanding amount of up to US$100,000,000 (or its equivalent in other currencies).
The purpose of the Trust is to fund the ‘Cash Advance’ service for Payway customers. Through this functionality, merchants can advance the crediting of their credit and prepaid card sales within 24 hours of the sale, so that they can receive the funds in advance.
TMF Trust Company (Argentina) acted as trustee and issuer and Payway as trustee. Banco Macro participated as arranger of the trust and Macro Securities and StoneX Securities as underwriters of the trust.
The trust securities were rated ‘AAAsf(arg)’ the highest credit risk rating by Fix SCR.
Payway is a market-leading credit, debit and prepaid card transaction processor, providing secure network and payment technology solutions and fraud prevention services. TCA’s team was led by partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured right), with the support of associates Juan Sanguinetti, Mariana Troncoso, Carolina Mercero and Stefanía Lo Valvo.
