TCA in new trust issue of Payway
Tanoira Cassagne Abogados acted as deal counsel in the issuance of the trust, “PAYWAY COBRO ACELERADO SERIE II” for a nominal value of $4.950.631.485.
This issue was made under the “PAYWAY” Global Trust Securities Programme for a maximum outstanding amount of up to US$100,000,000 (or its equivalent in other currencies).
TMF Trust Company (Argentina) acted as trustee and issuer and Payway as trustee. Banco Macro participated as arranger of the trust and Macro Securities and StoneX Securities participated as underwriters of the trust.
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 Collection” service to Payway customers. Through this functionality, merchants can advance the accreditation of their credit card and prepaid card sales within 24 hours of the sale, so that they can receive the funds in advance.
Payway is a market-leading 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), and associates Juan Sanguinetti, Mariana Troncoso, Carolina Mercero and Stefanía Lo Valvo.
