TozziniFreire and VBSO advise on Ouro Safra CRA
TozziniFreire Advogados advised Ouro Safra on the issuance of 150,000 agribusiness receivables certificates (CRA) by Opea Securitizadora, with a total aggregate principal amount of BRL 150 million. ASA Asset Management acted as lead coordinator of the public placement and was advised by VBSO Advogados.
The issuance comprises two classes of CRA. The senior class has 60,000 certificates in a single series, with an aggregate principal amount of BRL 60 million. The subordinated class has 90,000 certificates in a single series, with an aggregate principal amount of BRL 90 million.
The CRA are backed by agribusiness credit rights owed by Ouro Safra, evidenced by financial rural product notes issued by the company in favor of Opea Securitizadora. The senior series is also secured by a fiduciary assignment of certain receivables granted by Valdinei de Carvalho. Vórtx Distribuidora de Títulos e Valores Mobiliários acted as trustee.
The transaction was complex because it involved the public offering of two CRA classes with distinct features. It also marks another occasion on which Ouro Safra has accessed funding through the Brazilian capital markets.
The TozziniFreire team was led by partner Daniel Laudisio, with associates Marina Maia de Souza, Larissa Barbosa Souza and Gabriel Rogenfisch Quintans, and intern Murilo Gallo Bonomi.
VBSO Advogados advised the lead coordinator through partner José Alves Ribeiro Junior, with Welson H. Lassali Rodrigues and Vinicius da Silva Nascimento.
