Santos Neto advises issuance of CRAs for financing Usina Coruripe
Santos Neto Advogados advised Usina Coruripe in the public offering of Agribusiness Receivables Certificates (CRA) of the 55th issue of Virgo Companhia de Securitização, backed by Agribusiness Credit Rights due by suppliers of Usina Coruripe. The distribution of senior and mezzanine series of CRAs was carried out in accordance with CVM Instruction 476, under the coordination of Itaú BBA.
The CRAs were characterized as “Green Bonds” according to an independent opinion confirming environmental and agronomic attributes that contribute to the mitigation, adaptation and resilience of the sugarcane growing systems by the suppliers financed by the issuance.
The total amount of the issue was R$ 156,430,000.00
The team of Santos Neto Advogados involved in the transaction was partner Matheus Zilioti, Domicio dos Santos Neto and associates Henrique Takeda and Vinicius Oliveira.
Pinheiro Guimarães Advogados advised Itaú BBA.
