PAGBAM acts in Cencosud new trust securities issue
Pérez Alati Grondona Benites & Arntsen has acted as counsel in the issuance of the trust securities denominated “Cuotas Cencosud Series XXXV” Classes A and B, for a total amount of ARS $9,137,741,374.
The trust assets of the “Fideicomiso Financiero Cuotas Cencosud Serie XXXV” are physical and digital credits derived from the use of credit cards issued by Cencosud.
The National Securities Commission authorised the public offering of the Series XXXV trust securities on 26 July 2024, while the issuance of the trust securities took place on 31 July 2024. Fix SCR Rating Agent assigned a rating of “AAAsf(arg)” for the VDFA and “CCsf(arg)” for the VDFB.
Cencosud acted as trustee; TMF Trust Company (Argentina) as trustee and issuer; Banco de Galicia y Buenos Aires as arranger and co-placement; and SBS Trading and Banco Patagonia as co-placement.
Cencosud is a company dedicated to the operation of shopping centres, supermarkets and homecenters such as Disco, Jumbo, Easy and Unicenter, among others.
Magdalena Pologna and Gilda Strk acted as in-house lawyers for Cencosud; while Leonardo Pirolo and Tomás Bruno acted as in-house lawyers for TMF Trust Company (Argentina); and Enrique Cullen acted as in-house lawyer for Banco de Galicia y Buenos Aires.
PAGBAM’s team was led by partner María Gabriela Grigioni (pictured), with support from associates Nahuel Perez de Villarreal, María Sol Martínez, and paralegal Violeta Okretic.
