Diego Serrano

C&F and PAGBAM assist in BSF’s return to the capital markets

Cerolini & Ferrari Abogados has assisted Banco de Servicios Financieros (BSF) in its return to the local capital market, in the successful placement of class 21 notes for a nominal amount of $1,800,000,000. Pérez Alati, Grondona, Benites & Arntsen (PAGBAM) has assisted Banco Santander Argentina, Banco Supervielle and Banco Patagonia, arrangers and underwriters of the issue.

The issue was made on 21 September under the global programme, for a nominal amount of $1,800,000,000,000, maturing in September 2023, at a floating interest rate equivalent to the Private Badlar Rate plus a cut-off margin of 2.96%, payable quarterly and at an issue price of 100% of the nominal value, whose principal will be amortised in an instalment equal to 100% of the nominal value on the maturity date of the Notes.

In addition, the Notes were authorised for listing on the Argentine Stock Exchange and Markets (ByMA) and for trading on the Electronic Open Market (MAE).

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

The in-house lawyers advising on the transaction were Eduardo Dezuliani for BSF; Eduardo Ramos and Ezequiel Guerrero for Banco Santander; and Paola Nieto and Matías Gastaminza for Banco Patagonia.

C&F’s team consisted of partner Agustín L. Cerolini and associates Martín Chindamo and Dana König.

PAGBAM’s team included partner Diego Serrano Redonnet (pictured) and associates Nicolás Aberastury, Adriana Tucci, Joaquín López Matheu and Jerónimo Argonz.

L Giselle Estrada