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Cerolini & Ferrari advised in the first issuance of Recard S.A.

Cerolini & Ferrari Abogados advised Recard S.A., Banco CMF S.A., Banco Mariva S.A. and Banco de Servicios y Transacciones S.A., in the first issuance of notes of Recard under the Régimen PyME CNV Garantizada for a value of $300,000,000.

Cerolini & Ferrari Abogados advised Recard S.A. (“Recard”), Banco CMF S.A. (“Banco CMF”), Banco Mariva S.A. (“Banco Mariva”) and Banco de Servicios y Transacciones S.A. (“BST”) in the first issuance of notes of Recard under the Régimen PyME CNV Garantizada for a value of $300,000,000 (the “Notes”).

Recard is a company of the Elebar card group of companies, dedicated to the assembly and sale of household appliances since 1998.

The company's brand name is "Punto Blu" and it currently markets a wide range of household goods through its digital platform (www.puntoblu.com.ar).

In addition, its strategic partnership with "Tarjeta Elebar" facilitated the use of the 32 branches of "Tarjeta Elebar" in the province of Buenos Aires as delivery points. Recard also has a store in the city of Tres Arroyos.

On February 26, 2024, Recard issued Series I of Notes for a value of $300,000,000 at a variable rate with a cut-off margin of 0% and at an issue price equivalent to 100% of the nominal value of the Notes.

The maturity date of the Notes will be February 2026, and their principal will be amortized in 4 consecutive half-yearly instalments, the first of which is due on the 6th month from the date of issue.

The offering was directed to the local market and the Notes have been authorized for listing and trading on the Mercado Abierto Electrónico S.A. (MAE).

Banco CMF, Banco Mariva and BST acted as arranger, placement agent and guarantor of the Notes.

Internal legal counsel of Banco CMF

 

Miriam González, Cristian Ríos and Sebastián Calzetta

 

Internal legal counsel of Banco Mariva

 

María Eugenia Ataefe and Pablo Augusto Antao

 

Internal legal counsel of BST

 

Melina Lozano

 

External legal counsel of Recard, Banco CMF, Banco Mariva and BST

Cerolini & Ferrari Abogados

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

 

 

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Posted by Agustin Cerolini

2024-03-05 07:56:56