16 Mar 21 Cerolini & Ferrari advised Santa Mónica, Banco CMF and Banco Sáenz
Cerolini & Ferrari advised Santa Mónica S.A. (issuer of the ELEBAR® regional credit cards) in its entry into the public offering regime and in its first issuance of SME Notes under the PyME CNV Garantizada regime of the Argentine Stock Exchange Commission.
In that context, on March 4, 2021, Santa Mónica successfully issued Series I of the SME Notes for a nominal amount of AR$75,000,000, maturing in March 2023, at a variable rate (BADLAR) with a 2% applicable margin.
Banco CMF S.A. (CMF) acted as arranger, placement agent and guarantor of the notes and Banco Sáenz S.A. acted placement agent and guarantor of the notes.
Santa Mónica is a company dedicated to meet the financing and consumption needs of individuals, mainly through the ELEBAR® credit card business – www.elebar.com.ar – with regional scope in the province of Buenos Aires. At present, and as a way of highlighting the commercial development of Santa Monica and its credit card:
– has more than 80,000 active members;
– issues around 43,000 monthly account statements;
– has more than 12,000 merchants in the ELEBAR® region and 3,000 more on the Atlantic coast; and
– also, through agreements with ARGENCARD®, it offers its customers the possibility of using the card anywhere in the country, with a nationwide reach.
In addition to its credit card business, Santa Mónica provides other financial services, such as personal loans and the processing and administration of «closed» purchase and credit products (commercial cards).
CMF’s In-house counsel: Miriam González and Cristian Ríos.
Buhl, CMF and Banco Sáenz’s external legal advisors
Cerolini & Ferrari Attorneys-at-Law
Partner Agustín L. Cerolini and associates Martín Chindamo and Dana König.