TCA and PAGBAM advise on new issue of Credicuotas Consumo
Tanoira Cassagne Abogados has advised Credicuotas Consumo, and Pérez Alati Grondona Benites & Arntsen as co-arrangers and underwriters, in the issuance of the Series VIII Notes for a par value of $6.591.500.000.
The Series VIII Notes were issued on 12 June 2024, under the framework of its Global Program for the Issuance of Negotiable Obligations for a nominal amount of up to US$ 100,000,000 (or its equivalent in other currencies), are denominated in pesos, will mature on 12 June 2025, and will bear interest at a variable annual nominal interest rate equivalent to the BADLAR Rate plus a margin of 8%.
Credicuotas will use the net proceeds from the 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.
Banco Industrial and Industrial Valores acted as co-organisers; while Banco Comafi, Banco Patagonia, Banco de Servicios y Transacciones, Banco Supervielle, Industrial Valores, Nuevo Banco de Santa Fe, Banco Hipotecario, Banco Santander Argentina and Banco de Valores acted as underwriters.
TCA’s team consisted of partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured centre), and associates Juan Sanguinetti, Juan Manuel Simó, Ana Lucía Miranda and Federico Grieben.
PAGBAM’s team included partner Diego Serrano Redonnet (pictured right), counsel Alejo Muñoz de Toro and associates Juan Ignacio Rodriguez Goñi and Tamara Friedenberger.
