Pinheiro Neto act as deal counsel on the issuance of CRA by Virgo

Pinheiro Neto acted as a deal counsel on the issuance of Agribusiness Receivables Certificates (CRA) of the 1st, 2nd and 3rd Series of the 141st issue of Virgo Companhia de Securitização, backed by Diversified Agribusiness Credit Rights assigned by Agrológica Agromercantil, in the total amount of BRL 75 million.

Agrológica Agromercantil was created in 2007 and developed through the experience of its partners, who have acted in Brazilian agribusiness for more than 30 years. As it was the owner of certain credit rights issued by customers, the whole operation consisted in the assignment of such credit rights to Issuer, who then paid for the credit rights and used them as backing to the CRA.

This meant that Agrológica received financing and that the CRA investors will receive the corresponding interests and principal as the original debtors liquidate the credit rights represented by “Financial Rural Product Certificates” and “Duplicates”.

Pinheiro Neto relied on partner Tiago A. D. Themudo Lessa (pictured), associates Renata Gaspar Barbosa Correa, Carolina Fernández Vidal and legal intern Andrey Vishnevsky Fortes.