Bruchou & Funes de Rioja has advised on the recent issuance and placement by public offering in Argentina of $442,000,000 Class A Trust Debt Securities, $20,700,000 Class B Trust Debt Securities and $48,000,000 Trust Debt Securities under the “Centrocard Créditos V” Financial Trust.
The issuance was made under the “CENTROCARD” Global Trust Securities Programme for a nominal value of up to US$30,000,000 (or its equivalent in other currencies or units of measure or value).
Standard & Poor’s Argentina rated the Class A Trust Debt Securities as ”RaAA+ (sf)”.
In addition, the National Securities Commission authorised the public offering of the Trust Debt Securities on 30 May 2023 and the securities were issued on 8 June 2023.
Centro Card, a credit card service provider, acted as trustee and administrator; TMF Trust Company (Argentina) acted as financial trustee; Adcap Securities Argentina acted as arranger and underwriter; and Global Valores and StoneX Securities acted as underwriters.
Sebastian Toledo acted as in-house legal counsel to Centro Card.
Bruchou’s team was led by partner José María Bazán (pictured), with support from associates Manuel Etchevehere, Facundo Suárez Loñ and Teo Panich.