TCA acts in new issue of Credicuotas Notes
Tanoira Cassagne Abogados has acted as counsel to Credicuotas Consumo, as issuer, and to the arrangers and underwriters, in the issuance of Series X Class 1 Notes for a nominal amount of $7.990.000.000 and Series X Class 2 Notes for a nominal amount of $22.010.000.000.
The Series X Class 1 Notes are denominated in pesos, will mature on 28 November 2025, and will accrue interest at an annual floating nominal interest rate equivalent to the BADLAR Rate plus a 7% margin; while the Series X Class 2 Notes are denominated in pesos, will mature on 28 May 2025, and will accrue interest at a fixed annual nominal interest rate of 41%.
Credicuotas will use the net proceeds from the Series X 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 micro-credits and/or loans to individuals and/or legal entities.
Banco Industrial and Industrial Valores acted as co-organisers; and Industrial Valores, Banco Patagonia, Banco de Servicios y Transacciones, Banco Comafi, Inviu, Adcap Securities Argentina, BACS Banco de Crédito y Securitización, Provincia Bursátil, Cocos Capital, ACA Valores, Latin Securities, Banco de Galicia y Buenos Aires, Allaria, Banco de Valores and Banco Hipotecario as underwriters.
TCA’s team consisted of partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured right) and associates Juan Sanguinetti, Juan Manuel Simó and Ana Lucía Miranda.
