Cerolini & Ferrari represents Directo in new issuance of Notes
Cerolini & Ferrari Abogados has represented Crédito Directo (Directo), as issuer, as well as the underwriters, in the issuance of Directo’s class XXIX notes.
The issuance was made on December 20, 2024, under the framework of its global program for the issuance of Notes up to VN U$S 24,000,000,000, for a nominal value of Ps. 8,000,000,000,000, maturing in December 2025, at a variable interest rate equivalent to the Private Badlar Rate, plus a cut-off margin of 8%, payable quarterly, the principal of which will be amortized in three installments.
The Notes were offered to the general public and have been authorized for listing in the Argentine Stock Exchanges and Markets and for trading in the Electronic Open Market.
Banco de Servicios y Transacciones acted as arranger and underwriter; while Alycbur, Adcap Securities Argentina, SBS Trading, GMC Valores, Balanz Capital Valores, Cocos Capital, Provincia Bursátil, Banco Supervielle, Banco Patagonia and Nuevo Banco de Santa Fe acted as underwriters.
Directo’s main activity is the provision of financial assistance to individuals, through the granting of personal consumer loans mainly aimed at financing the purchase of motorcycles, home appliances, electronic products, appliances and furniture through different indirect distribution channels, such as department stores and retail chains and stores distributed throughout Argentina.
Ana Vea Murguia and Melina Lozano acted as in-house counsel to Banco de Servicios y Transacciones.
Cerolini & Ferrari’s team included partner Agustín L. Cerolini (pictured) and associates Martín Chindamo, Valentina Circolone and Tomás Mingrone.
