We advised on the the issuance of trust securities under the “Supercanal II” Financial Trust
Bruchou & Funes de Rioja assisted as legal advisors in the recent issuance and placement in Argentina of trust securities in the form of Class A Trust Securities for $300,000,000 and Class B Trust Securities for $1,200,000,000 by the “Supercanal II” Financial Trust, under the Program of Financial Trusts “SUPERCANAL” for an amount up to US$ 30,000,000 (or its equivalent in other currency, or monetary or value units).
Moody´s Local AR ACR S.A. rated the Class A Trust Securities as “A+.ar (sf))”, and Class B Trust Securities as “A.ar (sf)”.
Supercanal S.A., a leading cable television service provider, acted as trustor and administrative agent; TMF Trust Company (Argentina) S.A. acted as trustee; Adcap Securities Argentina S.A., Global Valores S.A. and Banco Macro S.A. acted as arrangers; and Macro Securities S.A.U., along with Adcap Securities Argentina S.A. and Global Valores S.A., acted as placement agents.
The Argentine Exchange Commission (Comisión Nacional de Valores) authorized the public offering of the securities on March 22, 2023, and the securities were issued on March 31, 2023.