Pérez Alati Grondona Benites & Arntsen has counselled Cencosud in the issuance of the Trust Securities called “Cuotas Cencosud Series XXIII” Classes A, B and C, for a total amount of $2,306,739,693 Argentine pesos ( US$ 18,447,276.52).
The public offering of the trust securities was authorised by the Comisión Nacional de Valores on 23 June 2022. The issue took place on 30 June 2022.
TMF Trust Company (Argentina), acted as trustee and issuer; Banco de Galicia y Buenos Aires acted as arranger and co-placement agent; while SBS Trading and Banco Patagonia acted as co-placement agents.
Fix SCR S.A. rating agent granted a rating of “AAAsf (arg)” for the VDFA, “Asf (arg)” for the VDFB and “CCsf (arg)” for the VDFC.
Cencosud is a company devoted to the operation of shopping centres, supermarkets and homecenters such as Disco, Jumbo, Easy and Unicenter, among others.
In-house counsels advising on the transaction were Javier Luzzi for Cencosud; Luis Vernet and Felipe Coudjmedjian for TMF Trust Company; 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.