Pérez Alati Grondona Benites & Arntsen has represented the entities involved in the issuance of the Trust Securities called “Cuotas Cencosud Series XXVII” Class A and B, for a total amount of AR $2,384,481,635.
The National Securities Commission authorized the public offering of the Series XXVII trust securities on February 13, 2023; while the issuance of the trust securities took place on February 22, 2023.
In the issue, Cencosud acted as trustee; TMF Trust Company (Argentina) as trustor and issuer; Banco de Galicia y Buenos Aires as arranger and co-placement agent; and SBS Trading and Banco Patagonia as co-placement agents.
Fix SCR 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 XXVII” are physical and digital credits derived from the use of credit cards issued by Cencosud.
Cencosud is a company engaged in the operation of shopping centres, supermarkets and homecenters such as Disco, Jumbo, Easy and Unicenter, among others.
In-house lawyers advising on the transaction were Javier Luzzi for Cencosud; Leonardo Pirolo and Tomás Bruno for TMF Trust Company (Argentina); and Fernán Pereyra de Olazabal for Banco de Galicia y Buenos Aires.
PAGBAM’s team included partner María Gabriela Grigioni (pictured left), associates Nahuel Perez de Villarreal (pictured centre), Jerónimo Juan Argonz (pictured right), María Sol Martínez and paralegal Violeta Okretic.