Pérez Alati Grondona Benites & Arntsen has advised on the issuance by Cencosud of the Trust Securities denominated “Cuotas Cencosud Series XXII” Classes A, B and C, for a total amount of $1,949,488,004 Argentine pesos (US$16,051,113.61).
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.
The National Securities Commission authorised the public offering of the Series XXII trust securities on 2 June 2022, while the issuance of the trust securities took place on 9 June 2022.
Fix SCR, rating agent, assigned a rating of “AAAsf (arg)” for the VDFA, “A+sf (arg)” for the VDFB and “CCsf (arg)” for the VDFC.
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 advising on the transaction were Javier Luzzi for Cencosud; Luis Vernet, Felipe Coudjmedjian and Melina Lozano for TMF Trust; and Fernán Pereyra de Olazabal for Banco de Galicia y Buenos Aires.
PAGBAM’s team was led by partner María Gabriela Grigioni (pictured left), assisted by associates Nahuel Pérez de Villarreal (pictured centre), Jerónimo Juan Argonz (pictured right) and Francisco Vignati Otamendi.