Marval acts in Waynimóvil VIII issue
Marval O’Farrell Mairal has acted as legal counsel in the issuance of the eighth series of trust securities corresponding to the Waynimóvil financial trust.
The amount of the issue totalled V/N ARS 2,055,397,384 and is part of the Waynimóvil Global Trust Securities Programme, which securitises 100% digital loans.
The issuance took place on 6 December and included Class A trust debt securities for V/N ARS 1,563,280,000, Class B trust debt securities for V/N ARS 390,837,289 and Class C trust debt securities for V/N ARS 101,280,095.
Waynicoin acted as trustee, trustee, administrator and collection agent; BACS Banco de Crédito y Securitización acted as trustee, arranger, placement agent and full settlement and clearing agent; Worcap acted as arranger; and Rosental, Banco de Servicios y Transacciones, Provincia Bursátil and Adcap Securities Argentina, as placement agents.
Under the same structure used in the previous issuance, the trust assets in Waynimóvil consist of loans granted in a 100% digital manner through the execution of private instruments subscribed by electronic signature, through Waynimóvil’s electronic platform.
The National Securities Commission authorised the public offering of these trust securities, which are traded in the Electronic Open Market and listed in the Argentinean Stock Exchanges and Markets.
Solange Spinelli and Pablo Vidal Raffo acted as in-house counsel to BACS Banco de Crédito y Securitización.
Marval’s team consisted of partner Sergio Tálamo (pictured), and associates Lautaro Penza and Lucía Capdepont.
