Tanoira Cassagne Abogados acted as legal advisors in the creation of the first livestock investment fund, the Financial Trust “INVERNEA GANADERO”
Tanoira Cassagne Abogados acted as deal counsel in the creation of the Individual Financial Trust “INVERNEA GANADERO” (the “Financial Trust”) and issuance of the of the first tranch of Certificates of Participation for a nominal value of $ 814,066,398 (eight hundred and fourteen million sixty-six thousand three hundred ninety-eight Pesos) (the “Certificates of Participation Tranche I”), due on December 23, 2032. The maximum amount of the Fund approved is of $ 1,000,000,000 (Pesos one billion).
CFA Compañía Fiduciaria Americana S.A. participated in the transaction as trustee and issuer, Invernea S.R.L. in its capacity as technical operator, ARG Capital S.A. as arrangement and PP Inversiones S.A. as the main placement agent.
The Financial Trust is the first issuance within the framework of the General Resolution of the National Securities Commission (“CNV”) No. 870 directed to productive development, regional economies and value chains. It constitutes the first livestock investment vehicle that will be part of the new investment regime that aims to reactivate the real economy and is directly directed to productive investment, allowing investment in the livestock sector by non-specialized investors contributing to the federalization of the capital market.
The Financial Trust, authorized by the CNV Board of Directors on December 3, 2020, is aimed at producing beef for the local and international market, including breeding, feed lot and marketing stages. Activities will be concentrated in fields placed in the provinces of Corrientes and Buenos Aires.
The Certificates of Participation Tranche I may be listed on Bolsas y Mercados Argentinos (“BYMA”), traded on the Mercado Argentino Electrónico (“MAE”) and on any other market regulated by CNV.
Tanoira Cassagne Abogados participated in the transaction through the team led by partners Alexia Rosenthal and Jaime Uranga, and associates Juan Sanguinetti and Carolina Demarco.