2026-09-01
Added
The Securities Market Superintendence (SMV) orders the exclusion of the emission program titled "First Program of Corporate Bonds TOTAL Financial Services Credit Company" (formerly "First Program of Corporate Bonds Factoring Total S.A.") from the Public Registry of the Securities Market. This exclusion applies to Total Servicios Financieros Empresa de Créditos following the expiration of the program's validity period and the exclusion of its issued securities, in accordance with the cessation of public interest. The resolution also mandates the publication of this decision on the SMV's institutional website and notification to the Lima Stock Exchange and CAVALI.
PERU Ministry of Economy and Finance
SMV Securities Market Superintendence "Decade of Equality of Opportunity for Women and Men" "Year of Hope and Strengthening of Democracy" 1 Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml General Superintendent Resolution SMV No. 050-2026-SMV/11.1 Lima, September 01, 2026 The General Superintendent of Conduct Supervision Seen: The File No. 2026035489, as well as the Internal Report No. 1358-2026-SMV/11.1, from the General Superintendent of Conduct Supervision of the Adjunct Superintendence of Market Conduct Supervision. Considering: That, by means of a written request presented on August 04, 2026, Total Servicios Financieros Empresa de Créditos requested the Securities Market Superintendence – SMV to exclude the emission program titled "First Program of Corporate Bonds TOTAL Financial Services Credit Company" (formerly, "First Program of Corporate Bonds Factoring Total S.A.") from the Public Registry of the Securities Market; That, from the evaluation carried out regarding the request referred to in the preceding consideration, it has been verified that by means of General Superintendent Resolution SMV No. 075-2019-SMV/11.1 of October 21, 2019, within the framework of an advance proceeding, by using the electronic e-prospectus system, the emission program titled "First Program of Corporate Bonds Factoring Total S.A." was registered, up to a maximum outstanding amount of US$ 20,000,000.00 (Twenty Million and 00/100 United States Dollars) or its equivalent in Soles, and the respective Master Prospectus was registered in the Public Registry of the Securities Market; That, by means of a material fact reported on January 03, 2023, TOTAL Servicios Financieros EDPYME (now, Total Servicios Financieros Empresa de Créditos) communicated that on December 31, 2022, the merger by absorption with Factoring Total S.A. had been registered in the Public Records under the responsibility of SUNARP; That, subsequently, by means of General Superintendent Resolution SMV No. 041-2023-SMV/11.1, of May 24, 2023, it was ordered (i) the registration of the fundamental variation of the Master Prospectus corresponding to the "First Program of Corporate Bonds TOTAL Financial Services Credit Company" in the Public Registry of the Securities Market, which consisted of the change in the legal personality of the issuer; and (ii) the registration of the Second Master Prospectus corresponding to the "First Program of Corporate Bonds TOTAL Financial Services Credit Company", which consolidated all the variations made, in the Public Registry of the Securities Market;
PERU Ministry of Economy and Finance
SMV Securities Market Superintendence "Decade of Equality of Opportunity for Women and Men" "Year of Hope and Strengthening of Democracy" 2 Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml That, taking into account the information on file in the Public Registry of the Securities Market, it has been noted that within the framework of the "First Program of Corporate Bonds TOTAL Financial Services Credit Company", the securities titled "First Issuance of the First Program of Corporate Bonds Factoring Total S.A." and "Second Issuance of the First Program of Corporate Bonds Factoring Total S.A." were registered, which were excluded from the Public Registry of the Securities Market and from the Securities Registry of the Lima Stock Exchange, pursuant to the provisions of General Superintendent Resolution SMV No. 050-2023-SMV/11.1; likewise, it has been verified that the validity period of the "First Program of Corporate Bonds TOTAL Financial Services Credit Company" has expired, making its renewal impossible, nor the registration of new issuances of securities within the framework of the same; having occurred the cessation of public interest and corresponding the application of Article 25, last paragraph, of the Regulation on Primary Public Offering and Sale of Securities, approved by CONASEV Resolution No. 141-1998-EF/94.10 and its amendments, and of Article 23, third-to-last paragraph, of the Regulation on Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange Wheel, approved by SMV Resolution No. 031-2012-SMV/01 and its modifying norms, which provide that the exclusion of an emission program at the request of the issuer operates when the validity period of registration has expired and no value has been placed within the framework of the program or when, having been placed, the value or values are excluded from the Public Registry of the Securities Market; That, Total Servicios Financieros Empresa de Créditos has presented the information and documentation required by the Single Consolidated Text of the Law of the Securities Market, Legislative Decree No. 861, approved by Supreme Decree No. 020-2023-EF; as well as by the Regulation on Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange Wheel; That, Article 39, letters a) and d), of the Single Consolidated Text of the Law of the Securities Market; as well as Articles 19, 20 and 23 of the Regulation on Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange Wheel, establish that the exclusion of a security from the Public Registry of the Securities Market takes place by a reasoned resolution of the SMV, at the request of the issuer, when the registration of the securities has originated by its own will and when the cessation of public interest operates; That, taking into consideration that Article 15, letter a), of the Single Consolidated Text of the Law of the Securities Market establishes that securities and emission programs are registered in the Public Registry of the Securities Market, the stated in the preceding consideration is also applicable to emission programs, since these are subject to registration in the aforementioned Registry; That, regarding the obligation to carry out a Public Offer for Exclusion – OPC when a value is excluded from the Public Registry of the Securities Market, established in Article 41 of the Single Consolidated Text of the Law of the Securities Market and in Article 32 of the Regulation on Public Offer of Acquisition and Purchase of Securities by Exclusion, approved by CONASEV Resolution No. 009-2006-EF/94.10 and its modifying norms, it must be noted that the exclusion of the "First Program of Corporate Bonds TOTAL Financial Services Credit Company" does not generate the obligation to carry out an OPC, as provided by Article 23 of the Regulation on Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange Wheel, as well as by Article 37, letter a), of the Regulation on Public Offer of Acquisition and Purchase of Securities by Exclusion;
PERU Ministry of Economy and Finance
SMV Securities Market Superintendence "Decade of Equality of Opportunity for Women and Men" "Year of Hope and Strengthening of Democracy" 3 Electronic document digitally signed under Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml That, Article 7, numeral 6, of the Policy on Dissemination of Normative Projects, General Character Legal Norms, Early Agenda and Other Administrative Acts of the SMV, approved by SMV Resolution No. 014-2014-SMV/01 and its modifying norms, establishes that the decisions contained in administrative resolutions that resolve the exclusion of securities from the Public Registry of the Securities Market must be subject to dissemination through the Institutional Website of the SMV on the Unique Digital Platform of the Peruvian State for Citizen Orientation (www.gob.pe/smv); and, Being in accordance with the provisions of Article 39, letters a) and d), of the Single Consolidated Text of the Law of the Securities Market; Article 25, last paragraph, of the Regulation on Primary Public Offering and Sale of Securities; Articles 19, 20 and 23 of the Regulation on Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange Wheel; as well as Article 46, numerals 4 and 6, of the Regulation on Organization and Functions of the Securities Market Superintendence, approved by Supreme Decree No. 216-2011-EF and its amendments, which empowers the General Superintendent of Conduct Supervision to resolve requests submitted by regulated entities related to primary public offerings and to evaluate and/or resolve any proceeding related to said offerings, as well as to order the exclusion of securities from the Public Registry of the Securities Market. Resolves: Article 1°.- Order the exclusion of the emission program titled "First Program of Corporate Bonds TOTAL Financial Services Credit Company" (formerly, "First Program of Corporate Bonds Factoring Total S.A."), corresponding to Total Servicios Financieros Empresa de Créditos, from the Public Registry of the Securities Market. Article 2°.- Disseminate this resolution on the Institutional Website of the SMV on the Unique Digital Platform of the Peruvian State for Citizen Orientation (www.gob.pe/smv). Article 3°.- Transcribe this resolution to Total Servicios Financieros Empresa de Créditos, in its capacity as issuer; to the Lima Stock Exchange S.A.; and, to CAVALI S.A. I.C.L.V. Register, communicate and disseminate. Alix Godos General Superintendent General Superintendent of Conduct Supervision
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