Cerolini & Ferrari on syndicated loan to Crédito Directo
Cerolini & Ferrari Abogados has advised Crédito Directo, as borrower, Banco de Servicios y Transacciones (BST), as arranger and administrative agent, Banco Mariva, as arranger, and a syndicate of participating banks, in the granting of a syndicated loan to Crédito Directo for a total amount of $6,000,000,000.
The syndicate of banks consisted of Mariva together with BACS Banco de Crédito y Securitización, Banco de la Provincia de Córdoba, Banco de la Ciudad de Buenos Aires, Banco de La Pampa and Nuevo Banco del Chaco.
The closing of the transaction took place on 27 September 2024 and the capital was granted through two disbursements.
In addition, the financing is secured by a package of guarantees including an assignment of collection rights and a guarantee from Grupo ST.
Crédito Directo is the fintech company of Grupo ST, whose main purpose is to provide personal consumer loans to finance the purchase of motorbikes, household appliances, electronic products, appliances and furniture, through different indirect distribution channels, such as department stores and retail chains and shops distributed throughout Argentina.
In-house counsel involved in the transaction were Rocío García and Melina Lozano for BST; Solange Spinelli and Pablo Vidal Raffo for BACS Banco de Crédito y Securitización; and Gabriela di Lisio for Banco de la Ciudad de Buenos Aires.
Cerolini & Ferrari’s team consisted of partner Agustín L. Cerolini (pictured), and associates Martín Chindamo, Valentina Circolone and Maria Agustina Martín Triscali.
