Buenos Aires’ first logistics hub obtains funding
Published in Latinlawyer.com, Tuesday, 20 May 2014.
Argentina’s Balbín & Pascual and Tavarone, Rovelli, Salim & Miani – Abogados have helped launch financial trusts worth a combined US$14.7 million to fund Buenos Aires’ first logistics hub.
CTC Administradora, the company developing the 37-hectare site in the capital’s south-west, received counsel from Balbín & Pascual, while the TMF Trust Company as trustee turned to Tavarone Rovelli. The transaction closed last week.
The deal saw two trusts launched. The first, worth US$4.8 million, has CTC shareholders as its settlors and was created following a transfer of shares. The second, worth US$9.9 million, has CTC as its settlor. CTC has assigned the second trust development and exploitation rights over the project.
The proceeds generated from the trusts will be used to construct the logistics hub, which was first tendered by the Buenos Aires’ municipal government in 2012. Officials hope that by creating a central point from which transport companies can load and offload goods, delivery times will improve and traffic flows will lighten in the capital’s congested southern quarter.
The transaction is the second deal reported on by Latin Lawyer that Tavarone Rovelli has taken on since the firm opened its doors in March.
Counsel to TMF Trust
Tavarone, Rovelli, Salim & Miani – Abogados
Partner Marcelo Tavarone and associates María Sol Ramoneda and Nicolás Peralta Ramos
Counsel to CTCAdministradora
Balbín & Pascual
Associate Juan Bussolini Miguez
Consumo Vida Serie IV” Financial Trust for AR$ 49 million
Deal counsel in the issuance and placement in Argentina of trust securities for AR$ 49,200,000 issued under the “Consumo Vida Serie IV” Financial Trust, in which Banco de Servicios y Transacciones S.A. acted as trustee, structuring and placement agent and successor administrator and Cooperativa de Crédito, Consumo y Servicios Sociales La Plata Ltda., Credymand S.A. and Promotora Social Vida S.A. acted as settlors. (2014)
“Fideicomiso Sector 1” and “Fideicomiso CTC Desarrollo Infraestructura” Financial Trusts for AR$ 39 million and AR$ 80 million
Deal counsel in the constitution of “Fideicomiso Sector 1” and “Fideicomiso CTC Desarrollo Infraestructura” financial trusts for the issuance of debt securities up to AR$ million and AR$ 80 million intended to finance the construction of a Logistics Centre Hub that will function in the City of Buenos Aires in which TMF Trust Company (Argentina) S.A acted as trustee. (2014)
Amendment and Renewal of Syndicated Bank Loan of AR$ 144.5 million
Legal Counsel of the Borrower.
Counsel of Generación Mediterránea S.A. in the amendment and renewal of a syndicated bank loan of $ 144.500.000. Acted as syndicated financial Organizers, Industrial and Commercial Bank of China S.A. and Banco Itaú Argentina S.A. (2014)
Issuance of Class III Notes by Generación Mediterránea S.A. for AR$ 100 million
Counsel of Issuer.
Counsel of Generación Mediterránea S.A. for the Issuance of Class III Notes for the amount of AR$ 100 million. Industrial and Commercial Bank of China (Argentina) SA and Banco Itaú Argentina Acted as arrangers and placement agents; Banco Macro S.A. acted as arranger and Macro Securities SA and Banco de Servicios y Transacciones S.A. participated as placement agents. (2014)
“Credimas Serie 20” Financial Trust for AR$ 72 million
Deal counsel in the issuance and placement in Argentina of trust securities for AR $72,000,000 issued under the “Credimas Serie 20” Financial Trust, in which Banco Supervielle S.A. acted as arranger and placement agent, TMF Trust Company (Argentina) S.A. acted as financial trustee and Credimas S.A. acted as servicing and custody agent. (2014)
“Bancor Personales II” Financial Trust for AR$ 51 million
Deal counsel in the issuance and placement in Argentina of trust securities for AR$ 51,000,000 issued under the “Bancor Personales II” Financial Trust, in which Banco de la Provincia de Córdoba S.A. acted as arranger, trustor, collection, administration and custody agent and placement agent, Deutsche Bank S.A. acted as financial trustee and successor collection, administration and custody agent, and Banco de Servicios y Transacciones S.A. acted as co-arranger y co-placement agent. (2014)
Consumo Vida Serie III” Financial Trust for AR$ 50 million
Deal counsel in the issuance and placement in Argentina of trust securities for AR$ 50,000,000 issued under the “Consumo Vida Serie III” Financial Trust, in which Banco de Servicios y Transacciones S.A. acted as trustee, structuring and placement agent and successor administrator and Cooperativa de Crédito, Consumo y Servicios Sociales La Plata Ltda., Credymand S.A. and Promotora Social Vida S.A. acted as settlors. (2014)
Acquisition of a cold storage company
Legal counsel to a shareholder in the acquisition of 100% of the capital stock of a company dedicated to provide cold storage services and re-negotiation with the selling shareholder of the existing commercial. (2013)