Marval Advises in the Creation of the “Red Mutual 68” Financial Trust

Marval has recently acted as legal counsel in the creation of the “Red Mutual 68” financial trust, within the Global Program of Red Mutual, for an amount of ARS 1,035,000,000.

The issuance, which took place on June 29, included senior trust debt securities for a total of ARS 755,550,000; trust debt securities class B for a total of ARS 124,200,000; and certificates of participation for ARS 155,250,000.

Asociación Mutual Unión Solidaria acted as settlor and administrator; TMF Trust Company (Argentina) SA, as trustee; Banco Voii SA and BACS Banco de Crédito y Securitización, as arrangers and underwriters; and Banco de Servicios y Transacciones SA and Banco Mariva SA, as underwriters,

The Argentine Securities Commission (CNV) had authorized this transaction for public offering on June 21, 2023. It had also been listed in Bolsas y Mercados Argentinos SA and Mercado Abierto Electrónico SA.

Marval acted as legal advisor of the settlor and administrator, arrangers, and underwriters through a team led by partner Sergio Tálamo, together with associate Lautaro Penza. It also acted as legal advisor of the trustee through a team led by partner Roberto E. Silva (Jr.), together with associates Martín I. Lanús and Francisco Vignati Otamendi.