23 May 25 Cerolini & Ferrari Abogados advised Banco de Servicios Financieros in the extension of its Global Program for the Issuance of Notes

By Agustín L. Cerolini, Martín Chindamo, Valentina Circolone and Tomás Mingrone

Cerolini & Ferrari Abogados successfully advised Banco de Servicios Financieros S.A. (“BSF”) in the process of extension for five years and update of its global programme of issuance of notes not convertible into shares for up to US$ 250,000,000 (or its equivalent in other currencies). In this regard, the Argentine Securities Exchange Commission (Comisión Nacional de Valores) authorised such extension and update on May 22, 2025.

BSF is a financial institution that develops its business within the specialised banking segment, focusing its activity on the consumer credit sector. In this respect, BSF’s activity is focused on retail financing, essentially aimed at financing end customers who purchase products marketed by INC S.A. (operator of the Carrefour Group’s supermarket chain in Argentina).

The financing granted to the customers of the 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 concerned, either exclusively for the purchase of products marketed by the Carrefour Group’s stores in Argentina or for other purposes.

BSF’s in-house counsel:

Eduardo Dezuliani and Vanina Molinero

BSF’s external counsel:

Cerolini & Ferrari Abogados

Partners Agustín L. Cerolini and Martín Chindamo, and associates Valentina Circolone and Tomás Mingrone.