Marval advises Banco de la Ciudad de Buenos Aires and Banco de Corrientes in syndicated loan

Marval O’Farrell Mairal has advised Banco de la Ciudad de Buenos Aires and Banco de Corrientes S.A. in a syndicated loan granted to CTM Cooperativa Agroindustrial de Misiones Ltda. for a total of US$ 5,000,000.

Banco de la Ciudad de Buenos Aires, as arranger, lender, administrative agent, and security agent, and Banco de Corrientes S.A., as lender, have granted CTM Cooperativa Agroindustrial de Misiones Ltda. ("CTM") a syndicated loan in the amount of U$S 5,000,000 on April 20, 2023.


The loan was secured with: (i) the assignment in guarantee of certain collection rights held by CTM under a tobacco processing agreement; (ii) a bond granted by the members of CTM’s board of directors in favor of the lenders; and (iii) the creation of a senior mortgage over CTM’s real estate.


The proceeds of the loan will be applied by CTM as working capital.

Marval O’Farrell Mairal acted as advisor to the lenders through a team consisting of partner Roberto E. Silva, Jr. together with associates Martín I. Lanús, Pablo H. Lapiduz, and Mauro Dellabianca.