Tauil & Chequer advises Cyrela and CashMe on CRIs issue

Tauil & Chequer Advogados in association with Mayer Brown advised Cyrela on the public distribution of real estate receivables certificates (CRIs), in the total amount of R$ 1 billion, with automatic registration with the CVM.

The CRIs are backed by real estate credits from Cyrela’s 17th private issue of simple debentures, not convertible into shares, of the unsecured type, in three series.

The funds obtained from the operation may be used to pay expenses, costs and costs not yet incurred by the debtor or its subsidiaries in relation to real estate projects.

In another transaction, the firm advised CashMe, part of the Cyrela Group, on the public distribution of CRIs worth approximately R$341 million.

CashMe belongs to the Cyrela Group, which owns 100% of its shares and granted the guarantee under the terms of the credit assignment agreement, as security for the obligations guaranteed therein.

In both transactions, Tauil e Chequer relied on partner Bruno Cerqueira (pictured) and associate Camila Torelli, both from the Capital Markets & Securitization practice.