TCA and PAGBAM counsel on Credicuotas Consumo Series IV Notes issuance
Tanoira Cassagne Abogados has advised Credicuotas Consumo and the arrangers, and Pérez Alati Grondona Benites & Arntsen has advised the underwriters, in the issuance of Series IV Notes for a par value of ARS $3,614,942,100.
The issue was made on March 21st under Credicuotas’ Global Program for the issuance of Negotiable Obligations for up to US $100,000,000 (or its equivalent in other currencies). The Series IV Notes are denominated in pesos, mature on 21 March 2024, and will accrue interest at an annual floating nominal interest rate equivalent to the BADLAR rate plus a margin of 4.75%.
In addition, the Series IV Notes were subscribed in cash and in kind through the delivery of Series I Notes, Series II Class 1 Notes and/or Series II Class 2 Notes, previously issued by Credicuotas.
Credicuotas will use the proceeds of 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 arrangers; while Allaria Ledesma & Cía., Banco Comafi, Banco Patagonia, Banco Santander Argentina, Banco de Servicios y Transacciones, Banco Supervielle, Facimex Valores and Industrial Valores acted as underwriters.
TCA’s team was led by partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured centre), with the support of associates Juan Sanguinetti, Juan Manuel Simó, Ana Lucía Miranda and Federico Grieben.
PAGBAM’s team included partner Diego Serrano Redonnet (pictured right) and associates Alejo Muñoz de Toro, Nahuel Perez de Villareal and Mora Mangiaterra Pizarro.
