Agustín Cerolini and Diego Serrano

C&F and PAGBAM act in new BSF issue

Cerolini & Ferrari has advised Banco de Servicios Financieros (BSF), and Pérez Alati Grondona Benites & Arntsen represented the underwriters, in the issuance of Class 23 Notes for a total amount of $1,518,790,998.

The issue was made on 19 June under the global programme of Negotiable Obligations, with the amount payable in cash, maturing in July 2024, at a variable interest rate equivalent to the Private Badlar Rate plus a cut-off margin of 5.5%, payable every three months and at an issue price of 100% of the nominal value, and whose principal will be amortised in an instalment equal to 100% of the nominal value on the maturity date of the Notes.

The offer of Notes was addressed to qualified investors in the local market and authorised for listing on the Argentine Stock Exchange and Markets (ByMA) and for trading on the Open Electronic Market (MAE).

Banco Santander Argentina, Banco Supervielle and Banco Patagonia acted as arrangers and underwriters.

BSF is a financial institution that develops its activities within the specialised banking segment, focusing its activity on the consumer credit sector.

Eduardo Dezuliani and Vanina Molinero acted as in-house counsels for BSF.

C&F’s team included partner Agustín L. Cerolini (pictured left) and associates Martín Chindamo and Dana König.

PAGBAM’s team comprised partner Diego Serrano Redonnet (pictured right) and associates Alejo Muñoz de Toro, Joaquín López Matheu and Juan Ignacio Rodríguez Goñi.

L Giselle Estrada