Marval advised on the Issuance of the “Elebar XVI” Financial Trust 

Marval O’Farrell Mairal acted as a legal advisor in the issuance of the fiduciary securities corresponding to the “Elebar XVI” Financial Trust, issued under the “Elebar” Program, for a total amount of ARS 4,655,526,000.  

The issuance took place on April 17, 2026. It included Trust Debt Class A Securities for a total of ARS 3,887,744,000 ; Trust Debt Class B Securities for a total of ARS 529,715,000 ; and Trust Debt Class C Securities for a total of ARS 238,067,000. 

The transaction was authorized for public offering by the Argentine Securities Commission on April 9, 2026, and is listed in Bolsas y Mercados Argentinos S.A. 

The Trust Debt Class A Securities, Trust Debt Class B Securities, and Trust Debt Class C Securities have been qualified by FIX SCR SA Risk Rating Agent as “A1+sf(arg)”, “BBB+sf(arg)”, and “Bsf(arg)”, respectively. 

Santa Monica S.A. acted as Settlor, Administrator, and Collection Agent. Banco de Valores S.A. acted as trustee, arranger, and underwriter; and Provincia Bursatil S.A., First Capital Markets S.A., Banco de Servicios y Transacciones S.A.U., Banco Mariva S.A. and Adcap Securities Argentina S.A. acted as underwriters. 

Marval O’Farrell Mairal acted as legal advisor for the transaction through a team led by partner Sergio Talamo together with associates Lautaro Penza, Pedro María Azumendi and Felicitas María Bereterbide.