Lefosse and TozziniFreire advise on Multiplan CRI

Lefosse advised Multiplan Empreendimentos Imobiliários as debtor in the 627th issuance of real estate receivables certificates (CRI) by Opea Securitizadora, a single-series offering totaling BRL 300 million. TozziniFreire acted as counsel to XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários, which coordinated the offer as underwriter.

The CRI were distributed through a public offering backed by real estate credit rights represented by a real estate credit certificate (cédula de crédito imobiliária), arising from obligations under Multiplan’s 17th issuance of simple, non-convertible, unsecured debentures, which were privately placed by the debtor. The proceeds raised by Multiplan through the offer will be allocated by the issuer, directly or through its subsidiaries and controlled companies, to cover real estate expenses and costs related to the construction, expansion, development, renovation and acquisition of stakes in business units located in certain properties. The CRI carry interest at 96.50% of the CDI rate and have a final maturity date of August 15, 2034. Oliveira Trust Distribuidora de Títulos e Valores Mobiliários acted as trustee for the transaction, which was completed in under two months.

Lefosse’s team advising Multiplan was led by partners Ricardo Prado and Mariana Pollini, with associates Isabela Magalhães, Luísa Mourão and Lucas Teixeira.

Multiplan’s in-house counsel on the deal included Matheus Gentil, João Paulo Nogueira Barros and Miryam Barandier.

The TozziniFreire team representing XP Investimentos was led by partner Daniel Laudisio, with support from associates Bryan Nathan Klein, Marina Maia de Souza, Larissa Barbosa Souza and Gabriel Rogenfisch Quintans, along with intern Murilo Gallo Bonomi.

XP Investimentos’ in-house counsel on the transaction was Victoria Foakes.

Pictured: Prado, Pollini and Laudisio