Marval acts on $5m loan to CTM
Marval O’Farrell Mairal has acted as legal advisor to Banco de la Ciudad de Buenos Aires and Banco de Corrientes in the granting of a syndicated loan in favour of CTM Cooperativa Agroindustrial de Misiones Limitada in the amount of US$ 5,000,000.
This transaction took place on 20 April, and as a result the funds disbursed will be applied by CTM as working capital.
The loan was secured by: (i) the assignment of certain of CTM’s collection rights under a tobacco processing contract; (ii) a guarantee given by CTM’s board members in favour of the banks; and (iii) the granting of a first priority mortgage on CTM’s real estate.
Banco de la Ciudad de Buenos Aires acted as arranger, lender, administrative agent and security agent; while Banco de Corrientes acted as lender.
Marval’s team was composed of partner Roberto E. Silva (h) (pictured) and associates Martín I. Lanús, Pablo H. Lapiduz and Mauro Dellabianca.