Beccar Varela advises on the establishment of the “Agrofina Series XXIX” financial trust
November, 2024 - Buenos Aires, Argentina
Beccar Varela advised on the establishment and issuance of debt securities under the Agrofina Series XXIX Financial Trust, issued on October 31, 2024, for a total amount of AR$3,256,655,334, within the framework of the Secuval II Program.
Banco de Valores S.A. acted as Financial Trustee, Custodian Agent, Organizer, and Placement Agent, while Agrofina S.A. served as Trustor, Administrator, and Collection Agent.
Under the Agrofina Series XXIX Financial Trust, the following securities were issued: (i) Class A Trust Debt Securities for AR$2,369,517,238, with a Cut-Off Rate of 44% nominal annual, rated “A1+sf(arg)” by FIX SCR S.A. (an affiliate of Fitch Ratings) on October 8, 2024; and (ii) Class B Trust Debt Securities for AR$887,138,096, with a Cut-Off Rate of 31% nominal annual, rated “BBBsf(arg)” by FIX on the same date. The trust’s objective is to provide financing to small and medium-sized enterprises (SMEs), as at least 70% of the trust’s assets consist of receivables or credits arising from transactions with CNV-registered SMEs.
Beccar Varela’s team led by Luciana Denegri, with the participation of María Victoria Pavani, Julián Alejandro Ojeda, and Carlos Nicolás Saúl Lucero advised all parties involved in the transaction: Banco de Valores S.A., acting as Co-Organizer, Issuer, Placement Agent, Custodian Agent, and Financial Trustee; Agrofina S.A., acting as Trustor, Administrator, and Collection Agent; FIRST Corporate Finance Advisors S.A., as Co-Organizer and Financial Advisor; and FIRST Capital Markets S.A., Option Securities S.A., and SBS Trading S.A., as Placement Agents.
