With this instrument, used for the first time in the Argentine markets, a new line of financing was opened for SMEs and companies in general.
The entry into force of the General Resolution No. 1003 of the National Securities Commission (CNV) and with the approval of the regulations of the Argentine Stock Market SA and Caja de Valores SA they began to carry out operations with Hard Dollar Notes.
With this instrument, used for the first time in the Argentine markets, a new line of financing for SMEs and companies in general was opened successfully, exceeding market expectations and having a direct impact on the real economy and the productive sector.
This new option establishes the possibility of negotiating the aforementioned instruments issued in dollars for payment in said currency. The payment clause is in cash and in foreign currency.
This is an initiative promoted by the CNV Board of Directors, to facilitate medium and long-term financing for companies, adapting the negotiation of promissory notes to their needs and production cycles, within a more efficient, transparent capital market that meets high international standards.
CNV: Other changes for deferred payment check and promissory note
Additionally, two exceptions were established under certain conditions and requirements for deferred payment checks and promissory notes. These allow such instruments to be transferred by the purchaser to other different clients provided that they have the following characteristics:
1.- Foreign intermediary and custodian, within the framework of global custody agreements through a depositor in Caja de Valores SA
2.- Financial trustee within the framework of a financial trust with public offering authorization for the securitization of said instruments.
Source: Ambito
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