Agustín L. Cerolini

C&F assists BSF in updating Note Issuance Programme

Cerolini & Ferrari Abogados has assisted Banco de Servicios Financieros (BSF) in the update of the prospectus of its global programme for the issuance of non-convertible negotiable obligations for up to US$ 250,000,000 (or its equivalent in other currencies).

The National Securities Commission (Comisión Nacional de Valores) authorised the update on 23 May 2023.

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

In this respect, BSF’s activity is aimed at retail financing, and essentially oriented towards financing customers who purchase products marketed by INC (operator of the Carrefour Group’s supermarket chain in Argentina).

The financing granted to customers of the various shops of the Carrefour Group in Argentina is offered through the Carrefour Card, issued by BSF, and also through personal loans granted to those customers who already have such a credit card. The financing is granted, depending on the item concerned, either exclusively for the purchase of products marketed by Carrefour Group stores in Argentina or for other purposes.

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

Cerolini & Ferrari’s team was led by partner Agustín L. Cerolini (pictured), with support from associates Martín Chindamo and Dana König.

L Giselle Estrada