TCA Tanoira Cassagne advises PAYWAY on the issuance of the Financial Trust "Payway Cobro Acelerado Serie II"  

August 12, 2024

TCA Tanoira Cassagne advised PAYWAY S.A.U. on the issuance of the Financial Trust "Payway Cobro Accelerado Serie II" (the "Trust") for a nominal value of $4,950,631,485, a new issue under the "PAYWAY" Global Trust Securities Programme for a maximum outstanding amount of up to US$100,000,000 (one hundred million US Dollars) (or its equivalent in other currencies) (the "Programme").

PAYWAY S.A.U. is a leading credit, debit and prepaid card transaction processing company, providing secure network and payment technology solutions, and offering fraud prevention services.

TMF Trust Company (Argentina) S.A. acted as trustee and issuer and PAYWAY S.A.U. as trustor. Banco Macro S.A. acted as Arranger of the Trust and Macro Securities S.A.U. and StoneX Securities S.A. acted as Placement Agents of the Trust.

The trust securities were rated "AAAsf(arg)", the highest credit risk rating granted by Fix SCR S.A. The purpose of the Trust is to finance the "Early Collection" service for PAYWAY S.A.U. customers. Through this feature, merchants can advance the crediting of their sales with credit cards and prepaid cards within 24 hours of the sale, so that they can receive the funds in advance.

Legal Advisors

TCA Tanoira Cassagne acting through the team led by partners Alexia Rosenthal and Jaime Uranga, and associates Juan Sanguinetti, Mariana Troncoso, Carolina Mercero and Stefanía Lo Valvo.
tanoiracassagne.com