Cerolini & Ferrari assists BSF in updating issuance programme
Cerolini & Ferrari has assisted Banco de Servicios Financieros (BSF) in the update of the global programme for the issuance of negotiable debentures not convertible into shares for up to V/N US$ 250,000,000 (or its equivalent in other currencies).
The Issuers’ Management of the National Securities Commission (CNV) authorised the update on 28 May.
BSF is a financial institution that develops its business within the specialised banking segment, focusing its activity on the consumer credit sector. In this respect, BSF’s activity is aimed at retail financing, and essentially oriented towards the financing of end customers purchasing products marketed by INC (operator of the Carrefour Group’s supermarket chain in Argentina).
Financing is granted both to customers of the various Carrefour Group stores in Argentina and to the general public through the My Carrefour Credit Card, issued by BSF, and also through personal loans for those customers who already have such a credit card. The financing granted, depending on the line of business in question, can be used for the purchase of products sold by Carrefour Group stores in Argentina or for other purposes through the Mastercard network.
Eduardo Dezuliani and Vanina Molinero acted as in-house counsels to BSF.
Cerolini & Ferrari’s team consisted of partner Agustín L. Cerolini (pictured), and associates Martín Chindamo, Dana König and Valentina Circolone.
