TCA represents Credicuotas Consumo in issuance of Series V Notes

Tanoira Cassagne Abogados has represented Credicuotas Consumo in the issuance of Series V Class 1 and 2 Notes for a par value of ARS $ 4,024,740,051.

The issue was made on June 5th under Credicuotas’ Global Program for the issuance of Negotiable Obligations for up to U$S 100,000,000 (or its equivalent in other currencies).

Credicuotas will use the net proceeds of the Series V Notes entirely for 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 micro-credits and/or loans to individuals and/or legal entities.

The Series V Class 1 Notes are denominated in pesos, maturing on 5 June 2024, and will accrue interest at an annual floating nominal interest rate equivalent to the BADLAR Rate plus a 6% margin. The Series V Class 2 Notes are denominated in pesos, mature on 5 December 2024, and will bear interest at an annual floating nominal interest rate equivalent to the BADLAR Rate plus a margin of 7%.

The Series V Class 1 Notes were issued in cash and in kind through the delivery of the Series I Notes and the Series II Class 1 Notes previously issued by Credicuotas; while the Series V Class 2 Notes were issued in cash and in kind through the delivery of the Series II Class 2 Notes and the Series III Class 1 Notes previously issued by Credicuotas.

Banco Industrial and Industrial Valores acted as arrangers. Allaria Ledesma & Cía, Banco Comafi, Banco Patagonia, Banco de Servicios y Transacciones, Banco Supervielle, Banco de Galicia y Buenos Aires, Facimex Valores, Industrial Valores, Banco de la Provincia de Córdoba and Banco Hipotecario acted as underwriters.

TCA’s team included partners Alexia Rosenthal (pictured left) and Jaime Uranga (pictured right) and associates Juan Sanguinetti, Juan Manuel Simó, Ana Lucía Miranda and Federico Grieben.