PAGBAM advises Cencosud on new issue of trust securities
Pérez Alati Grondona Benites & Arntsen has counselled on the issuance of trust securities called “Cuotas Cencosud Series XXIX” Class A and B, for a total amount of $2,432,862,355.
The National Securities Commission authorised the public offering of the Series XXIX trust securities on 13 June 2023, while the issuance of the trust securities took place on 16 June 2023.
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 XXIX” are physical and digital credits derived from the use of credit cards issued by Cencosud.
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.
The in-house lawyers involved in this transaction were 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 was led by partner María Gabriela Grigioni (pictured), supported by associates Nahuel Perez de Villarreal, María Sol Martínez, Martina Mastandrea and paralegal Violeta Okretic.
