TCA acts in new issuance of Credicuotas Notes
Tanoira Cassagne Abogados has acted as counsel to Credicuotas Consumo, as issuer, and as counsel to the arrangers and underwriters, in the issuance of Series IX Notes for a face amount of $11,371,204,714.
Banco Industrial and Industrial Valores, acted as co-arrangers; while Industrial Valores, Banco Supervielle, Banco Patagonia, Cocos Capital, Banco Comafi, Banco de Galicia y Buenos Aires, Banco de Servicios y Transacciones, Allaria, Banco de la Provincia de Córdoba and Banco de Valores acted as underwriters.
The Notes were issued on 27 September under its Global Note Issuance Programme for a nominal value of up to US$ 100,000,000 (or its equivalent in other currencies), are denominated in pesos, mature on 27 September 2025, and bear interest at a nominal annual floating rate equivalent to the BADLAR rate plus a margin of 8%.
Credicuotas will use the net proceeds from the Series IX Notes issue entirely for working capital, considering that the main purpose of Credicuotas’ activity is the creation, marketing and operation of credit and/or debit card systems and the granting of microcredits and/or loans to individuals and/or legal entities.
TCA’s team was led by partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured right), assisted by associates Juan Sanguinetti, Juan Manuel Simó and Ana Lucía Miranda.
