2026-04-17
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The Superintendency of the Securities Market (SMV) orders the exclusion from the Public Registry of the Securities Market and the Lima Stock Exchange Registry of the securities titled "First Issuance of Total Leasing Bonds of the Second Program" and the associated issuance program "Second Total Leasing Bonds Program" due to the total cancellation of obligations and the expiration of the registration validity period. This exclusion is granted to Total Servicios Financieros Empresa de Créditos, and the SMV determines that a Public Offer of Purchase by Exclusion is not required because the rights over the securities have been extinguished. The resolution mandates the dissemination of this decision on the SMV's institutional website and notification to the issuer, the Bondholders' Representative, the Lima Stock Exchange, and CAVALI S.A. I.C.L.V.
PERÚ Ministry of Economy and Finance
SMV Superintendency of the Securities Market "Decade of Equality of Opportunities 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 Supervision of Conduct Resolution of the SMV No. 020-2026-SMV/11.1 Lima, April 17, 2026 The General Superintendent of Conduct Supervision Seen: File No. 2026012714, as well as Internal Report No. 591-2026-SMV/11.1, from the General Supervision of Conduct of the Adjacent Superintendency of Conduct Supervision of Markets. Considering: That, by means of a document presented on March 19, 2026, Total Servicios Financieros Empresa de Créditos requested the Superintendency of the Securities Market – SMV, through the Single Window system, the exclusion of the securities named "First Issuance of Total Leasing Bonds of the Second Program," which were registered and placed within the framework of the "Second Total Leasing Bonds Program," in the Public Registry of the Securities Market and in the Registry of Securities of the Lima Stock Exchange, due to the total cancellation of the obligations derived from them; That, it has been verified that, by means of Article 1 of the Directorial Resolution of Issuers No. 130-2008-EF/94.06.3 of September 5, 2008, within the framework of an advance procedure, the issuance program named "Second Total Leasing Bonds Program" was registered, up to a maximum issuance amount of US$ 20,000,000.00 (Twenty Million and 00/100 United States Dollars) or its equivalent in Soles, and the corresponding Master Prospectus was registered in the Public Registry of the Securities Market; That, by means of Article 2 of the Directorial Resolution of Issuers No. 130-2008-EF/94.06.3 of September 5, 2008, within the framework of the "Second Total Leasing Bonds Program," the securities named "First Issuance of Total Leasing Bonds of the Second Program" were registered up to a maximum issuance amount of US$ 6,000,000.00 (Six Million and 00/100 American Dollars), and the respective Complement of the Master Prospectus was registered in the Public Registry of the Securities Market and, subsequently, in the Registry of Securities of the Lima Stock Exchange;
PERÚ Ministry of Economy and Finance
SMV Superintendency of the Securities Market "Decade of Equality of Opportunities 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, from the evaluation of the documentation presented by Total Servicios Financieros Empresa de Créditos, the presentation of the documents referred to the total cancellation of the obligations derived from the securities named "First Issuance of Total Leasing Bonds of the Second Program" has been verified; That, Total Servicios Financieros Empresa de Créditos has presented the information and documentation required by the Single 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, approved by SMV Resolution No. 031-2012-SMV/01, for the purpose of the exclusion of the securities "First Issuance of Total Leasing Bonds of the Second Program"; That, taking into account what is indicated in the preceding consideration, it is observed that with the exclusion of the securities "First Issuance of Total Leasing Bonds of the Second Program," all securities registered within the framework of the issuance program "Second Total Leasing Bonds Program" will be excluded from the Public Registry of the Securities Market; likewise, that the validity period for the registration of the cited issuance program has expired, making it impossible to carry out new placements and/or issuances of securities within the framework of the same; and, that the cessation of public interest has occurred; complying with what is established in the last paragraph of Article 25 of the Regulation on Primary Public Offer and Sale of Securities, approved by CONASEV Resolution No. 141-98-EF/94.10 and its modifying norms, which states that with respect to issuance programs, exclusion operates when the validity period for 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, Article 39, letters b) and d), of the Single Text of the Law of the Securities Market; as well as Articles 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 value from the Public Registry of the Securities Market takes place by a reasoned resolution of the SMV when the extinction of rights over the value operates, by amortization, total redemption, or other cause, and when the cessation of public interest operates; That, in this sense, taking into consideration that Article 15 of the Single Text of the Law of the Securities Market and Article 2 of the Regulation of the Public Registry of the Securities Market, approved by CONASEV Resolution No. 079-97-EF-94.10, establish that in the section "On securities and issuance programs" of the Public Registry of the Securities Market, securities and issuance programs are registered, what is stated in the preceding consideration is also applicable to issuance programs, since these are subject to registration in the aforementioned registry; That, regarding the obligation to carry out a Public Offer of Purchase by Exclusion – POP when a value is excluded from the Public Registry of the Securities Market, established in Article 41 of the Single 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 securities named "First Issuance of Total Leasing Bonds of the Second Program" falls within the causal of exception for the non-realization of a POP, as provided by Article 37, letter a), of the Regulation on Public Offer of Acquisition and Purchase of Securities by Exclusion, and by the penultimate paragraph of 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, since the extinction of rights over the values has occurred; That, Article 7, numeral 6, of the Policy on Dissemination of Normative Projects, General 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 Page of the SMV on the Unique Digital Platform of the Peruvian State for Citizen Orientation (www.gob.pe/smv); and, Being in accordance with what is provided by Article 39, letters b) and d), of the Single Text of the Law of the Securities Market; Articles 19, 20, 21 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; Article 25 of the Regulation on Primary Public Offer and Sale of Securities; as well as by Article 46, numeral 6, of the Regulation on Organization and Functions of the Superintendency of the Securities Market, approved by Supreme Decree No. 216-2011-EF and its amendments, which empowers the General Supervision of Conduct to dispose of the exclusion of values from the Public Registry of the Securities Market. Resolves: Article 1st.- Order the exclusion of the securities named "First Issuance of Total Leasing Bonds of the Second Program," corresponding to the "Second Total Leasing Bonds Program," from the Public Registry of the Securities Market. Article 2nd.- Rule in favor of the exclusion of the values indicated in the preceding article, from the Registry of Securities of the Lima Stock Exchange. Article 3rd.- Order the ex officio exclusion of the issuance program named "Second Total Leasing Bonds Program" from the Public Registry of the Securities Market. Article 4th.- Disseminate this resolution on the Institutional Page of the SMV on the Unique Digital Platform of the Peruvian State for Citizen Orientation (www.gob.pe/smv).
PERÚ Ministry of Economy and Finance
SMV Superintendency of the Securities Market "Decade of Equality of Opportunities 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 Article 5th.- Transcribe this resolution to Total Servicios Financieros Empresa de Créditos, in the capacity of issuer; to Banco de Crédito del Perú, in the capacity of Representative of the Bondholders; 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 Supervision of Conduct
PERÚ Ministry of Economy and Finance
SMV Superintendency of the Securities Market "Decade of Equality of Opportunities for Women and Men" "Year of Hope and Strengthening of Democracy" 4 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
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