Marval guides CNHI Capital’s inaugural bond issuance

Argentinian law firm Marval O’Farrell Mairal has advised CNH Industrial Capital Argentina (CNHI Capital) on its inaugural bond issuance

The issuance comprised non-convertible negotiable obligations in shares for up to $200 million or its equivalent in other currencies or units of value.

The issuance comprised two tranches, of class 1 corporate bonds denominated in US dollars, integrated in pesos at the initial exchange rate and payable in pesos at the applicable exchange rate, and class 2 corporate bonds, denominated, integrated and payable in pesos for a total nominal amount of approximately $40 million.

CNH Capital is a commercial company established to provide financing within the CNH Industrial Group, which offers clients and concessionaires of CNH Industrial financing for the acquisition of new and used vehicles, and financing to the network of concessionaires on their stock of units.

Banco Santander Río and Galicia y Buenos Aires acted as arrangers, while Puente Hnos., Balanz Capital Valores and Banco Patagonia acted as placement agents. 

Marval’s team was led by partner Gabriel Matarasso (pictured), with associates Sergio Tálamo and Jacqueline Berkenstadt.

Pérez Alati, Grondona, Benites & Arntsen acted as counsel to the placement agents, with a team led by partner Diego Serrano Redonnet, with associates Nicolas Aberastury, Guido Meirovich and Paula Balbi.