Marval counsels on Unicred Factoring XX trust issue

Marval O’Farrell Mairal has counselled on the incorporation of the financial trust “Unicred Factoring Series XX” under the Global Trust Securities Programme “Fideicomisos Financieros Unicred Asset Backed Securities”, as well as on the issuance of its related trust securities for up to V/N ARS 851,437,971.

The issue took place on 26 June and included class A trust debt securities for V/N ARS 618,550,000 (VDFA), class B trust debt securities for V/N ARS 47,650,000 (VDFB) and certificates of participation for V/N ARS 185,237,971 (CP).

The National Securities Commission authorised the public offering of these trust securities, which will be traded on the Open Electronic Market and listed on the Argentine Stock Exchanges and Markets.

Cooperativa de Crédito y Vivienda Unicred Limitada acted as trustee and administrator; TMF Trust Company (Argentina) as trustee; AdCap Securities Argentina as arranger and underwriter; while Banco Supervielle, Industrial Valores, Allaria, and Banco de Servicios y Transacciones acted as underwriters.

Marval O’Farrell Mairal acted as sole legal counsel in the transaction, through its partner Roberto E. Silva Jr. (pictured) and associates Martín I. Lanús and Mauro Dellabian Lanús and Mauro Dellabianca.