News

13 November 2025

PAGBAM advised on the the issuance of the Financial Trust “Tarjeta Fértil XXV” with automatic authorization due to its medium impact

Argentina’s Pérez Alati, Grondona, Benites & Arntsen has acted as deal counsel in the twenty fifth issuance under a trust securities programme “Fértil Finanzas” worth US$10 million on which Fértil Finanzas S.A. acted as Trustor and Rosario Administradora Sociedad Fiduciaria S.A. acted as Trustee and issuer of the deal.  

Adcap Securities Argentina S.A. acted as placement arranger and organizer of the trust, and Stonex Securities S.A., as well as Adcap Securities Argentina S.A. acted as  placement agents in the transaction, which closed on November 12th, 2025. Rosario Administradora Sociedad Fiduciaria S.A. issued the debt securities in three classes worth a total of ARG $2.775.000.000 (U$S 1,979,315.26).

The Trust Programme, called Fértil Finanzas, consists of present and future credits originated by Fértil Finanzas S.A. through the use of the credit cards and personal loans.

Deal Counsel

Pérez Alati, Grondona, Benites & Arntsen.

Partner María Gabriela Grigioni, associates  María Sol Martinez and Violeta Okretic.

Counsel to Rosario Administradora Sociedad Fiduciaria S.A.

In-house Counsel – Lucas Jakimowicz and Joana Solé.

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