Alexia Rosenthal, Jaime Uranga and Diego Serrano

TCA and PAGBAM in new issue of Credicuotas Consumo Notes

Tanoira Cassagne Abogados has advised Credicuotas Consumo, and Pérez Alati Grondona Benites & Arntsen advised the arrangers and underwriters, in the issuance of the Series VII Notes for a par value of $ 9,302,661,529.

The Series VII Notes were issued on 23 April, under the framework of its Global Programme for the Issuance of Negotiable Obligations for a nominal amount of up to USD 100,000,000 (or its equivalent in other currencies), are denominated in pesos, mature on 23 April 2025, and bear interest at a variable annual nominal rate equivalent to the BADLAR rate plus a 5% margin.

As well, the Series VII Notes were paid in cash and in kind through the delivery of the Series V Class 1 Negotiable Obligations, previously issued by Credicuotas.

Credicuotas will allocate the net proceeds of the Series VII Notes entirely to working capital, considering that the main purpose of Credicuotas’ business 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, Banco Comafi, Banco Patagonia, Banco de Servicios y Transacciones, Banco Supervielle, Industrial Valores, Banco de la Provincia de Córdoba, Banco Hipotecario, Banco Santander Argentina and Balanz Capital Valores acted as underwriters.

TCA’s team was led by partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured centre), with support from 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.

L Giselle Estrada