Greenberg Traurig counsels bookrunner in Frigorífico Concepción notes offering

Greenberg Traurig has acted as US counsel to Oppenheimer & Co., the initial purchaser and sole bookrunner in the $100 million note offering by Frigorífico Concepción, a Paraguayan beef processing company.

The company’s offering of its 10.25 per cent senior secured notes due 2025 was made in the US. The notes are guaranteed by Frigorífico BFC, a Bolivian beef processing company, and secured by a lien on certain real estate property and equipment of the company located in Paraguay, certain trade receivables of the company, a pledge of 97.96 per cent of the equity interests in the company, and a pledge of 51 per cent of the equity interests in the guarantor.

The proceeds of the issuance were mainly used by the company to restructure its debt in Paraguay.

“Completing this complex transaction for Oppenheimer & Co. was very rewarding and we thank them for placing their trust in our team to do so,” said “This offering required an important amount of coordination and teamwork given the complexity of structuring a cross-border transaction involving Paraguay and Bolivia,” Marc M. Rossell (pictured), a shareholder in Greenberg Traurig’s Corporate Practice and co-chair of the firm’s Latin America practice, said. 

The Greenberg Traurig New York office attorney team was led by Rossell and shareholder Oscar Stephens. Additional team members included tax practice shareholder Erez I. Tucner, associate María Velasco, and foreign law clerk Juanita Bermudez.