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Cerolini & Ferrari and PAGBAM advised in a new BSF issuance

Cerolini & Ferrari Abogados advised Banco de Servicios Financieros S.A. as issuer in the issuance of class 24 notes for a nominal amount of AR$ 10,000,000,000

On February 2, 2024, BSF issued the Notes under its Global Program for the Issuance of Notes for up to a nominal amount of US$250,000,000 (two hundred and fifty million U.S. dollars) or its equivalent in other currencies (the “Program”), for a nominal value of AR$10,000,000,000 (Pesos ten billion). The Notes will mature on February 2025 and bear variable interest rate corresponding to the sum of the “Badlar Privada” Rate and the 3.75% cut-off margin. The principal of the Notes will amortized in an installment equal to 100% of the nominal value on the maturity date of the Notes.

The Notes were offered to qualified investors in the local market and have been authorized for listing in Bolsas y Mercados Argentinos S.A. and for trading in the Mercado Abierto Electrónico S.A.

BSF is a financial institution that develops its business within the specialized banking segment, centralizing its activity in the consumer credit sector.

In this sense, BSF's activity is focused on retail financing, and essentially oriented to the financing of end customers, purchasers of products marketed by INC S.A. (operator of the supermarket chain of the Carrefour Group in Argentina).

The financing granted to customers of different stores of the Carrefour Group in Argentina is offered through the Carrefour Card, issued by BSF, and also through personal loans granted to those customers who already have such credit card. The financing is granted, depending on the line of business in question, either exclusively for the purchase of products marketed by Carrefour Group stores in Argentina or for other purposes.

BSF's in-house legal counsel

Eduardo Dezuliani and Melisa Peralta

BSF's external legal advisors

Cerolini & Ferrari Attorneys-at-Law

Partner Agustín L. Cerolini and associates Martín Chindamo, Dana König and Valentina Circolone

Outside counsel to the organizer and underwriters

Pérez Alati, Grondona, Benites & Arntsen

Partner Diego Serrano Redonnet, counsel Alejo Muñoz de Toro and associates Nahuel Perez de Villarreal and Tamara Friedenberger

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Posted by Communications Desk

2024-02-20 10:16:40