Marval advises on the issuance of the “Elebar III” Financial Trust

Marval participated as legal advisor on the creation of the “ELEBAR” Program and on the issuance of fiduciary securities corresponding to the “Elebar III” Financial Trust –issued under the “ELEBAR” Program– for a total amount of ARS 563,491,000.

The issuance took place on August 3, 2023. It included Trust Debt Class A Securities for a total of ARS 493,111,000; Trust Debt Class B Securities for a total of ARS 54,395,000; and Trust Debt Class C Securities for a total of ARS 15,985,000.

The transaction was authorized for public offering by the Argentine Securities Commission on July 26, 2023, and is listed in Bolsas y Mercados Argentinos SA.

FIX SCR SA – a risk rating agent– qualified the Trust Debt Class A Securities, Trust Debt Class B Securities, and Trust Debt Class C Securities as A1+sf(arg), BBBsf(arg), and BBsf(arg), respectively.

Santa Mónica SA acted as settlor, administrator, and collection agent. Banco de Valores SA acted as trustee, arranger, and underwriter; and Provincia Bursatil SA, First Capital Markets SA, and Banco de Servicios y Transacciones SA acted as underwriters.

Marval acted as legal advisor for the transaction through a team led by partner Sergio Talamo (pictured), together with associates Carmen Del Pino and Agustin Alejo Centurion.