TCA acts in PAYWAY trust issuance
Tanoira Cassagne Abogados has acted as deal counsel in the issuance of the trust, “PAYWAY COBRO ACELERADO SERIE I” for a nominal value of $3.039.938.927.
The issue was made under the “PAYWAY” Global Trust Securities Programme for a maximum outstanding amount of up to USD $100,000,000 (or its equivalent in other currencies).
TMF Trust Company (Argentina) acted as trustee and issuer and PAYWAY as trustor. Banco Macro acted as arranger of the trust and Macro Securities and StoneX Securities acted as underwriters.
The trust securities were rated “AAAsf(arg)”, the highest credit risk rating granted by Fix SCR.
The purpose of the trust is to fund PAYWAY’s Advance Payment Collection service to customers. Through this functionality, merchants can advance the crediting of their sales with credit cards and prepaid cards within 24 hours of the sale, so that they can receive the funds in advance.
PAYWAY is a company that processes credit, debit and prepaid card transactions and provides secure network and payment technology solutions, as well as fraud prevention services.
TCA’s team was led by partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured right), with support from associates Juan Sanguinetti, Mariana Troncoso, Carolina Mercero and Stefanía Lo Valvo.
