Tanoira Cassagne advises on debt issuance of Credicuotas Consumo
Tanoira Cassagne Abogados advised Credicuotas Consumo S..A, on issuance of their $500,000,000 Class IV Short Term Notes due 2022 (the “Short Term Notes”) under their Short Term Debt Securities Program for $1,000,000,000 (or its equivalent in other currencies).
The Short Term Notes are Pesos denominated fix rate notes, due on June 2022 and bearing an annual rate of 5.00%. The notes were issued on June 16, 2021. Banco Industrial S.A. participated as organizer and Industrial Valores S.A. as placement agent.
The Short Term Notes were admitted to listing in Bolsas y Mercados Argentinos S.A. through Bolsa de Comercio de Buenos Aires S.A. and approved to be traded in Mercado Abierto Electrónico S.A.
The company will apply the net cash proceeds of this offering for capital expenditures considering that the purpose of the activity of Credicuotas Consumo S.A. is the creation, commercialization and operation of credit and/or debit card systems and the granting of microcredits, loans to individuals and/or legal entities.
Counsel of the Transaction: Tanoira Cassagne Abogados. Partners Alexia Rosenthal and Jaime Uranga and associates Juan Sanguinetti and Pilar Domínguez Pose.