Multiple firms advises on first CDCA issue of Engelhart worth BRL 8.5 bi
Stocche Forbes, Tauil & Chequer Advogados in association with Mayer Brown and Machado Meyer on the first issuance of agribusiness credit rights certificates (CDCA), in nine series, by Engelhart CTP Brasil, for a total amount of R$ 8.5 billion.
Following the Brazilian National Monetary Council’s (CMN) restrictions earlier this year on issuing bonds with tax benefits, such as Real Estate Receivables Certificates (CRI), Agribusiness Receivables Certificates (CRA), Agribusiness Credit Bills (LCA) and Real Estate Credit Bills (LCI), the CDCA has become a strategic alternative for attracting investors, since it was exempt from Income Tax and the IOF. In addition, CRAs, for example, can now only be issued by companies directly linked to agribusiness.
The operation attracted so much attention from the market and the government that the CMN issued a new resolution to harmonize the rules of the CDCA with those of the CRAs and CRIs, which have been more restrictive since February.
Stocche Forbes advised Engelhart and relied on partners Thadeu Bretas (pictured left), associates Ravel T. Carvalho and Julia Laura Fernandes.
Tauil & Chequer advised BTG Pactual and XP Investimentos and relied on partner Bruno Cerqueira (pictured center-left) and associate Artur Nascimento.
Machado Meyer also adised the coordinators and relied on partners Guilherme Azevedo Ferreira Alves (pictured center-right), Gustavo Rugani do Couto e Silva (pictured right), lawyers Isabelle Germaine Fernandes Noro Valente.
In-house counsel list:
Engelhart: Larissa Frederico.
BTG: Felipe Andreu, Izabel Siqueira, Gabriela Trevisan, Isabella Roque e Matheus Borghi.
XP: Kristian Orberg.
