María Gabriela Grigioni

PAGBAM counsels on first issue of FULLCREDIT I

Pérez Alati Grondona Benites & Arntsen has counselled Fullcredit as trustee and CFA Compañía Fiduciaria Americana as trustor in the creation of the new “Fullcredit” Global Trust Securities Issuance Programme for a nominal value of up to US$ 5,000,000 million (five million US dollars) or its equivalent in other currencies.

In addition, the firm advised Fullcredit, as trustee, CFA Compañía Fiduciaria Americana as trustor and issuer, ARG Capital as arranger and financial advisor and Arpenta as underwriter, in the issuance of the first Series of “Fullcredit I” Class A and B Trust Securities for a total amount of $88,663,923.

The Board of Directors of the National Securities Commission authorised the creation of the Programme on 15 March 2023 and the lifting of the conditions by the Financial Trusts Management was carried out on 31 March 2023. The public offering of the Trust’s Trust Securities was authorised on 5 April 2023 and the conditions were lifted by the Financial Trusts Management Opinion on 19 May 2023, while the issuance of the Trust took place on 8 June 2023.

Standard and Poor’s Global Ratings Argentina Calificadora de Riesgo granted a rating of “AAfe(arg)INI” for the VDFA and “Afe(arg)INI” for the VDFB.

PAGBAM’s team was composed of partner María Gabriela Grigioni (pictured), associates Nahuel Perez de Villarreal, María Sol Martínez, Martina Mastandrea and paralegal Violet Okretic.

L Giselle Estrada