Beccar Varela advised on the deal.
Agrofina S.A. announced the constitution of Series XXV Financial Trust set up under the program Secuval II (the “Financial Trust”).
The issuance of securities under the Financial Trust for the total amount of AR$489,120,490 took place on September 6th, 2021, as follows: (i) AR$437,634,123 were issued in Class A trust debt securities, at an annual nominal variable rate equivalent to the private BADLAR rate, plus 100 basis points, with a minimum of 35% and a maximum of 45% rated A1sf(arg) on August 17th, 2021, by FIX SCR S.A. Risk Rating Agent “Affiliate of Fitch Ratings” (“Fix”); and (ii) AR$51,486,367 were issued in Class B trust debt securities, at an annual nominal variable rate equivalent to the private BADLAR rate, plus 200 basis points, with a minimum of 36% and a maximum of 46% rated A2sf(arg) by Fix on the same date.
Banco de Valores S.A. acted as financial trustee, custodian agent, organizer and placement agent, while Agrofina S.A. acted as the trustor, administrator and collection agent. Banco Mariva S.A., First Capital Markets S.A., SBS Trading S.A and StoneX Securities S.A. acted as placement agents and FIRST Corporate Finance Advisors S.A. acted as co-organizer and financial advisor.
The financial trust’s main goal is to finance small and medium-sized companies, given that at least 70% (seventy percent) of the amount of the trust asset, considering its nominal value, is made up of rights or credits from operations carried out with SMEs CNV.
All parties involved were advised by Beccar Varela with a team led by partner Luciana Denegri (Picture), assisted by associates María Victoria Pavani, María Inés Cappelletti and Julián Ojeda.
Law Firms: Beccar Varela;