Tanoira Cassagne Abogados advises on the first Closed-end Investment Fund which performance is linked to corporate income – “ALLARIA NÓMADA RENTA CORPORATIVA FONDO COMÚN DE INVERSIÓN CERRADO INMOBILIARIO”
Tanoira Cassagne Abogados advised Allaria Ledesma Fondos Administrados Sociedad Gerente de Fondos Comunes de Inversión S.A., Banco Comafi S.A. and Grupo Nómada S.A, in the creation and first issuance of shares of the real estate Closed-end Investment Fund “ALLARIA NÓMADA RENTA CORPORATIVA FONDO COMÚN DE INVERSIÓN CERRADO INMOBILIARIO” (the “Fund”). The Fund was approved by the Argentine securities and exchange commission (the “CNV”) through a resolution dated September 16, 2020, in the amount of AR$ 471,543,235.
The shares were successfully placed on November 16, 2020. It is the first Fund which integration is in kind and not only in cash.
The Fund will have a duration of ten (10) years from the date of issue and integration of the shares corresponding to this first period of subscription.
The maximum issue amount of the Fund is the equivalent in Argentine Pesos to US$ 250,000,000.
The Fund was established for the exclusive purpose of providing a return to shareholders through investment in corporate income instruments.
The Fund provided for three class of condominium shares. Each share gives the right to one (1) vote, to participate in the distribution of profits that may be decided by the Administrator as provided in the Regulations and to participate in the proceeds that may exist at the time of the liquidation of the Fund.
Allaria Ledesma Fondos Administrados Sociedad Gerente de Fondos Comunes de Inversión S.A. took part in the transaction as Managing Company of the Fund and Banco Comafi S.A. as Depositary Company of the Fund.
Allaria Ledesma & Cía. S.A. also participated as placement agent.
The shares of the Fund have been authorized for their listing in Bolsas y Mercados Argentinos S.A.
Legal Advisors to the Transaction: Tanoira Cassagne Abogados: Partner Alexia Rosenthal and Associates Ignacio Nantes and Mariana Troncoso.