We advised on VALO’s issuance of Notes for AR$90,084,353,132

Bruchou & Funes de Rioja advised Banco de Valores S.A. (“VALO”), as issuer; VALO and Max Capital S.A. (“Max Capital”), as arrangers; and Max Capital, as placement agent, in the successful issuance of Class 3 Notes in the aggregate principal amount of AR$90,084,353,132, denominated to be subscribed and payable in Argentine pesos, at a variable interest rate with an applicable margin of 3.00%, maturing on October 24, 2026 (the “Notes”). The Notes were issued under the global note issuance program for an aggregate principal amount of up to US$150,000,000 (or its equivalent in other currencies and/or units of measure or value) (the “Program”).

The Notes have been admitted for listing on Bolsas y Mercados Argentinos S.A. and authorized for trading on A3 Mercados S.A. Additionally, they have been rated “A1+(arg)” with a stable outlook by FIX SCR S.A. Agente de Calificación de Riesgo (afiliada de Fitch Ratings).

VALO is a key player in the development of the Argentine capital market and a benchmark in specialized financial solutions through its role as trustee and custodian of mutual funds. In addition, since 2025, it has been advancing a consolidation process as a wholesale bank, through a comprehensive offering of products and services for corporate and institutional clients.

Bruchou & Funes de Rioja‘s Banking & Capital Markets team involved in the transaction was led by Partner Leandro Exequiel Belusci and associates Marco Haas and Manuel Vergez Dinatale.