19 July 2023

Issuance of BSF Class XXIII of Negotiable Obligations

Cerolini & Ferrari Abogados advised Banco de Servicios Financieros S.A. (“BSF”), acting as issuer, and Pérez Alati, Grondona, Benites & Arntsen advised Banco Santander Argentina S.A., Banco Supervielle S.A. and Banco Patagonia S.A., acting as arrangers and placement agents, in the issuance of Class 23 for an aggregate amount of $1.518.790.998 (the “Notes”).

On June 19, 2023, BSF successfully completed the issuance of the Notes under its global notes program, for an aggregate amount of $1.518.790.998, paid in cash and in-king, maturing on July, 2024, at a variable interest rate equivalent to the Private Badlar Rate plus a cut-off margin of 5.5%, payable every three months and at an issuing price of 100% of the nominal value, and whose capital will be redeemed in an installment equal to 100% of the nominal value on the Notes' maturity date.

The Notes offering was directed to qualified investors from the local market and authorized for listing in Bolsas y Mercados Argentinos S.A. (ByMA after its Spanish Acronym) and for trading in Mercado Abierto Electrónico S.A. (MAE after its Spanish Acronym).

BSF is a financial institution that develops its activities within the specialized banking segment, centralizing its activity in the consumer credit sector.

As such, BSF’s business is aimed at retail financing, and essentially oriented towards financing end customers who purchase products marketed by INC S.A. (manager of the Carrefour Group's supermarket chain in Argentina).

The financing granted to customers of the different stores of the Carrefour Group in Argentina is offered through the Carrefour Card, issued by BSF, and also through personal loans granted to those customers who already have such credit card. Depending on the line of business in question, the financing is granted either exclusively for the purchase of products marketed by the Carrefour Group stores in Argentina or for other purposes.

Arrangers and placement agents’ external legal advisors

Pérez Alati, Grondona, Benites & ArntsenPartner Diego Serrano Redonnet and associates Alejo Muñoz de Toro, Joaquín López Matheu and Juan Ignacio Rodríguez Goñi.

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