PAGBAM assists Cencosud in $14m trust securities issue

Pérez Alati, Grondona, Benites & Arntsen has counselled Cencosud in the issuance of the “Cuotas Cencosud Serie XXI” for an amount of $14 million dollars

 Pérez Alati, Grondona, Benites & Arntsen has assisted Cencosud, 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 in the issuance of the Trust Securities called “Cuotas Cencosud Serie XXI” Class A, B and C, for a total amount of $1. 648,496,041 Argentine pesos ($14,173,905.17 USD).

The National Securities Commission (Comisión Nacional de Valores) authorised the public offering on 29 April 2022, while the issuance of the trust securities took place on 9 May 2022. The underwriters of the trust securities were Banco de Galicia y Buenos Aires, SBS Trading and Banco Patagonia, while Fix SCR, risk rating agent, granted a rating of “AAA ar (sf)” for the VDFA, “A-sf (arg)” for the VDFB and “CCsf (arg)” for the VDFC.
Cencosud is a company engaged in the operation of shopping centres, supermarkets and homecenters such as Disco, Jumbo, Easy and Unicenter, among others.

The in-house lawyers advising on this transaction were Javier Luzzi for Cencosud; Luis Vernet, Felipe Coudjmedjian and Melina Lozano for TMF Trust Company; and Fernán Pereyra de Olazabal for Banco de Galicia y Buenos Aires.

PAGBAM’s team consisted of partner María Gabriela Grigioni (pictured left), and associates Nahuel Perez de Villarreal (pictured top right), Jerónimo Juan Argonz (pictured middle right) and Francisco Vignati Otamendi (pictured bottom right).

PAGBAM assists Cencosud in $14m trust securities issue

L Giselle Estrada

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