Pinheiro Neto and Pinheiro Guimarães advise on Opea issuance

Pinheiro Neto advised the issuer, Pinheiro Guimarães advised the underwriters on the Opea Securitizadora debenture issuance totaling BRL103,074,111.60. The offering forms part of the extrajudicial restructuring plan of Companhia Brasileira de Distribuição (GPA).

The transaction consisted of the 48th issuance of simple, unsecured, non-convertible debentures in five series, distributed publicly under the automatic registration procedure and backed by diversified credit rights. Proceeds from the issuance are earmarked for debt repayment, with the assets and net proceeds to be used by Opea Securitizadora to subscribe for and pay in the New Debentures Issuance A, New Debentures Issuance B, and New Money Debentures to be issued by the debtor, in line with the terms of the extrajudicial restructuring plan.

The offer was designed to allow holders of debentures issued by GPA and holders of CRIs backed by GPA receivables who are clients of Itaú Unibanco to opt for a more favorable recovery route under the extrajudicial restructuring plan (Plano de Recuperação Extrajudicial). Because the offering targeted the general public, it required prior review by ANBIMA to qualify for the automatic registration process.

Pinheiro Neto advised the issuer, Opea Securitizadora, with a team led by partners Rafael Gaspar and Luiz Felipe Fleury Vaz Guimarães, supported by associates Elena Carvalho Carrasco, Giovanna Covolo de Freitas, Marianna Beatriz Diaz Martins de Oliveira, and Gabriel Dal Bello Bufano.

Pinheiro Guimarães advised the underwriter, Itaú BBA Assessoria Financeira, with partner Carolina Testoni Alonso Camargo leading a team that included associates Tamara Grillo Balassiano, Paula Gomes Passos C Monteiro, and Frederico Ferrari Araujo.

Pictured: Gaspar, Guimarães and Camargo