Tanoira Cassagne (TCA) acted as legal advisor in the organization of the Program “AGREE” and the creation of the 100% digital Financial Trust “AGREE Serie I”.
Tanoira Cassagne Abogados (TCA) acted as deal counsel in the creation of the program of trust debt securities “AGREE” (the “Program”) and the issuance of the first trust “AGREE Serie I” Financial Trust (“Trust”), under the Program.
TMF Trust Company (Argentina) S.A. acted as trustee and issuer (“Trustee”) and Agree Market S.A. acted as trustor (the “Trustor”), in the issuance of trust debt securities under the Trust for a total aggregate amount of $195,100,000.
StoneX Securities S.A. acted as arrangement agent and jointly with BACS Banco de Crédito y Securitización S.A. acted as placement agents of the Trust. Worcap S.A. acted as financial advisor of the Trust
The Financial Trust was set within the framework of the General Resolution of the Argentine Securities Commission No. 870 targeted to foster productive development, regional economies and value chains. The purpose of the issuance, under this innovative structure, was to fund the Trustor with the assignment to the Trust of the credits granted by the Trustor to producers, guaranteed with forward contracts and executed digitally through the platform created by Agree Market. The infrastructure and services of the platform are 100% in the cloud, using blockchain technology.
The Argentine Securities Commission authorized the Program on April 13, 2022, and on April 22, 2022, was authorized the Trust and the public offering of the trust debt.
Deal Counsel of the Transaction: Tanoira Cassagne Abogados (TCA) acted through a team led by partners Alexia Rosenthal and Jaime Uranga; and Associates Juan Sanguinetti, Francisco Rojas Andri, Pilar Domínguez Pose and Carolina Mercero.