PAGBAM acts in new issue of Cuotas Cencosud
Pérez Alati Grondona Benites & Arntsen has advised Cencosud, 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, in the issuance of the Trust Securities denominated “Cuotas Cencosud Series XXXVI” Classes A and B, for a total amount of ARS $9,223,726,818.
The trust assets of the “Cuotas Cencosud Series XXXVI Financial Trust” are physical and digital credits derived from the use of credit cards issued by Cencosud.
The National Securities Commission authorized the public offering of the Series XXXVI trust securities on August 22, 2024; while the issuance of the trust securities took place on August 27, 2024.
Fix SCR Rating Agent granted a rating of “AAAsf(arg)” for the VDFA and “CCsf(arg)” for the VDFB.
Cencosud is a company engaged in the operation of shopping centers, supermarkets and homecenters such as Disco, Jumbo, Easy and Unicenter, among others.
In-house lawyers involved in the transaction were Magdalena Pologna and Gilda Strk for Cencosud; Leonardo Pirolo and Tomás Bruno for TMF Trust Company (Argentina); and Enrique Cullen for Banco de Galicia y Buenos Aires.
PAGBAM’s team included partner María Gabriela Grigioni (pictured), associates Nahuel Perez de Villarreal, María Sol Martínez, and paralegal Violeta Okretic.
