10 Oct 24 Cerolini & Ferrari advises a group of banks on the granting of a syndicated loan to Crédito Directo

Agustín L. Cerolini, Martín Chindamo, Valentina Circolone and Maria Agustina Martín Triscali.

Cerolini & Ferrari Abogados advised Credito Directo, as borrower, Banco de Servicios y Transacciones, as arranger and administrative agent (“BST”), Banco Mariva, as arranger («Mariva») and a syndicate of Argentine banks (the “Syndicate”) on the granting of a syndicated loan to Crédito Directo for a total amount of AR$ 6,000,000,000.

The Syndicate consisted of Mariva together with BACS Banco de Crédito y Securitización, Banco de la Provincia de Córdoba, Banco de la Ciudad de Buenos Aires, Banco de La Pampa and Nuevo Banco del Chaco.

The transaction closed on September 27, 2024, and the capital was provided in two tranches.

In addition, the financing is secured by a package of guarantees, including an assignment of collection rights and a guarantee from Grupo ST.

Crédito Directo is the fintech company of Grupo ST, whose main purpose is to grant personal loans to consumers to finance the purchase of motorcycles, household appliances, electronic products, equipment, and furniture, through various indirect distribution channels, such as department stores and retail chains and shops distributed throughout Argentina.

BST’s in-house counsels

Rocío García and Melina Lozano

BACS Banco de Crédito y Securitización’s in-house counsels

Solange Spinelli and Pablo Vidal Raffo

Banco de la Ciudad de Buenos Aires’s in-house counsel

Gabriela di Lisio

Counsels of the Transaction

Cerolini & Ferrari

Agustín L. Cerolini, as partenr, and Martín Chindamo, Valentina Circolone and Maria Agustina Martín Triscali, as associates.