Trench Rossi Watanabe advises Creditas on structuring FIDC

Trench Rossi Watanabe advised Creditas on structuring and setting up the Creditas Auto XII Credit Rights Investment Fund (FIDC) through a public offering of shares in the amount of BRL 800 million. The fund’s objective is to finance secured credit operations and automobile financing originated by the fintech’s digital platform.

The offering registered demand of R$ 2.3 billion in the bookbuilding process, almost three times the volume offered, and was coordinated by Itaú BBA, ABC, and Santander. Angá Asset acted as fund manager and Daycoval acted as administrator and custodian.

All stages of credit origination are carried out electronically, from the granting of the loan to the establishment of the guarantee on the vehicle and the assignment of receivables to the fund. To build the portfolio, in addition to acquiring new credits originated by the platform, the FIDC entered into receivables assignment agreements with two investment funds, ensuring a continuous flow of credit rights.

Trench Rossi Watanabe was represented by partner Eduardo Herszkowicz (pictured) and associates Bruno Gontijo and Daniel Mota.