Marval counsels on Red Mutual 70 issue
Marval O’Farrell Mairal has counselled on the issuance of trust securities corresponding to the “Red Mutual 70” Financial Trust. The amount of the issue totalled V/N ARS 715.000.000.000 and is part of the Red Mutual Global Trust Securities Programme.
The issue took place on 22 September and included senior variable income trust debt securities for V/N ARS 500,500,000; class B variable income trust debt securities for V/N ARS 128,700,000, and participation certificates for V/N ARS 85,800,000.
The National Securities Commission (Comisión Nacional de Valores) authorised the public offering of these trust securities on 14 September. The trust securities will be traded on the Mercado Abierto Electrónico and listed on the Argentinean Stock Exchanges and Markets.
Asociación Mutual Unión Solidaria acted as trustee and administrator; TMF Trust Company (Argentina) as trustee in a non-personal capacity; Banco Voii and BACS Banco de Crédito y Securitización as arrangers and underwriters; while Banco de Servicios y Transacciones and Banco Mariva acted as underwriters.
Marval advised Asociación Mutual Unión Solidaria, Banco Voii, BACS Banco de Crédito y Securitización and Banco Mariva, through a team led by partner Sergio Tálamo (pictured left), together with associate Lautaro Penza; while partner Roberto E. Silva Jr (pictured right), together with associates Martín I. Lanús and Francisco Vignati Otamendi, advised TMF Trust Company (Argentina).
