Bruchou represents Centro Card in trust securities issue

Bruchou & Funes de Rioja has represented Centro Card in the issuance and placement by public offering in the Argentine Republic of Trust Debt Securities Class A for $455,500,000, Trust Debt Securities Class B for $19,950,000, Trust Debt Securities for $56,520,000 under the Financial Trust “Centrocard Créditos IV”.

The issue 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 measurement 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 15 March 2023 and the securities were issued on 22 March 2023.

Centro Card, a credit card services 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.

Bruchou’s team was led by partner José María Bazán (pictured) and associates Manuel Etchevehere and Facundo Suárez Loñ.