PAGBAM acts in the issuance of Cuotas Cencosud XL
Pérez Alati Grondona Benites & Arntsen has acted as counsel to Cencosud, as trustee, to TMF Trust Company (Argentina), as trustee and issuer, to Banco de Galicia y Buenos Aires as arranger and co-placement agent and to SBS Trading and Banco Patagonia as co-placement agents in the issuance of the trust securities called ‘Cuotas Cencosud Series XL’ Classes A and B, for a total amount of ARS $12,541,953,160.
The National Securities Commission (Comisión Nacional de Valores) authorised the public offering of the Series XL trust securities on 19 December, while the issuance of the trust securities took place on 26 December. Banco de Galicia y Buenos Aires, SBS Trading and Banco Patagonia acted as Placement Agents for the trust securities, while Fix SCR Risk Rating Agent granted a rating of ‘AAAsf(arg)’ for the VDFA and ‘CCsf(arg)’ for the VDFB.
The trust assets of the ‘Fideicomiso Financiero Cuotas Cencosud Serie XL’ are physical and digital credits derived from the use of credit cards issued by Cencosud.
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 counsels to Cencosud; while Leonardo Pirolo and Tomás Bruno provided in-house counsel to TMF Trust Company (Argentina); and Enrique Cullen was in-house counsel to 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.
