13 Ene 25 Cerolini & Ferrari advised on a new issuance of Crédito Directo Notes

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

Cerolini & Ferrari Abogados advised Crédito Directo S.A. (”Directo”), as issuer, and Banco de Servicios y Transacciones S.A., as arranger and placement agent, and Alycbur S.A., Adcap Securities Argentina S.A., SBS Trading S.A., GMC Valores S.A., Balanz Capital Valores S.A.U., Cocos Capital S.A., Provincia Bursátil S.A., Banco Supervielle S.A., Banco Patagonia S.A. and Nuevo Banco de Santa Fe S.A., as placement agents, in the issuance of the class XXIX notes (the “Notes”).

On December 20th 2024, Directo issued the Notes under its global programme for the issuance of negotiable obligations up to VN US$ 24,000,000,000, for a nominal value of $ 8,000,000,000,000, maturing in December 2025, at a variable interest rate equivalent to the Private Badlar Rate, plus a cut-off margin of 8%, payable quarterly, the principal of which will be amortised in three instalments.

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.

Directo’s core business is the provision of financial assistance to individuals through the granting of personal consumer loans mainly to finance the purchase of motorbikes, household appliances, electronic products, appliances and furniture through different indirect distribution channels, such as department and chain shops and retail outlets throughout Argentina.

In-house legal counsels to Banco de Servicios y Transacciones S.A.

Ana Vea Murguia and Melina Lozano.

External legal counsel to Directo, the Arranger and the Placement Agents

Cerolini & Ferrari Abogados

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