PAGBAM advises on the issuance of Cuotas Cencosud Series XXXIII
Pérez Alati Grondona Benites & Arntsen acted as legal advisor in the issuance of the trust securities denominated “Cuotas Cencosud Series XXXIII” Classes A and B, for a total amount of $ 6,531,848,778.
The National Securities Commission authorised the public offering of the Series XXXIII trust securities on 30 May 2024, while the issuance of the trust securities took place on 6 June.
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 agent and SBS Trading and Banco Patagonia as co-placement agents.
Cencosud is a company dedicated to the operation of shopping centres, supermarkets and homecenters such as Disco, Jumbo, Easy and Unicenter, among others. The trust assets of the “Fideicomiso Financiero Cuotas Cencosud Serie XXXIII” are physical and digital credits derived from the use of credit cards issued by Cencosud.
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 Banco de Galicia y Buenos Aires.
PAGBAM’s team was led by partner María Gabriela Grigioni (pictured), associates Nahuel Perez de Villarreal, María Sol Martínez, and paralegal Violeta Okretic.
