Machado Meyer advises Direcional Engenharia on R$200m CRI issuance

Machado Meyer Advogados acted as business advisor to Direcional Engenharia S.A in the issue of 200,000 Real Estate Receivables Certificates (CRI) from True Securitizadora in the total amount of R$200,000,000.00

Machado Meyer acted as business consultant for Direcional Engenharia S.A in connection with the structuring of the issue of 200,000 Real Estate Receivables Certificates (CRIs) of the 371st series of the 1st issue of True Securitizadora S.A. pursuant to ICVM 476 and ICVM 414 in the total amount of R$200,000,000.00.

The CRIs are secured by real estate credits arising from simple debentures, not convertible into shares, unsecured, in a series, for private placement, issued by Direcional Engenharia S.A.

Machado Meyer participated in the preparation and negotiation of the transaction documents, including but not limited to the Securitization Term; Deed of Issue of CCIs; Subscription Agreement; and Deed of Purchase and Sale of Debentures.

The net proceeds raised from the issue of the CRIs will be used to reimburse Direcional and its controlled companies for real estate expenses directly related to the acquisition, construction and/or renovation of certain real estate assets, as well as the acquisition of land and construction of housing units by Direcional and its controlled companies.

Leading the work at Machado Meyer in the advice to Direcional Engenharia S.A were the partners Bruno Janikian Racy (pictured left) and Gustavo Rugani Do Couto E Silva (pictured right), and also the lawyers Luis Filipe Gentil Pedro and Aline Antonio.

Vaz, Buranello, Shingaki & Oioli also participated in the deal.