Summary of Transaction Demarest acted as deal counsel assisting the parties
involved on the preparation of the documentation of the offering,
and negotiation of its terms and conditions.
Public offering with restricted sales efforts (CVM Regulation
476/2009) of 122 (one hundred twenty two) certificates of
agribusiness receivables ("CRA"), issued by Gaia
Florestal Securitizadora S.A. ("Gaia"), amounting to BRL
40 million. BB Banco de Investimentos S.A. ("BB-BI")
acted as the leading placement agent.
Use of structured financings, such as the CRA, in the capital
markets is a trend the agribusiness sector will follow to provide
the necessary funds it needs to comply with the demand within the
following years. This CRA offering is the first implemented by
Banco do Brasil - the largest agribusiness financer in Brazil - and
Gaia - the largest securitization company in Brazil -, and is
groundbreaking since provided financing to a sugarcane producer
under a long term facility (almost 5 years).
The 13th Federal Court in Curitiba approved the leniency agreement between the construction company Andrade Gutierrez and the Federal Prosecutor's Office within the context of the "Lava Jato" operation.
The Brazilian Senate approved last March, the Senate Bill no. PLS 555/2015, which sets forth provisions on the legal bylaws of public companies, government controlled (private) companies, and subsidiaries thereof...
In 2014, the Brazilian Securities and Exchange Commission presented to a public hearing a draft of an Instruction that proposes to change the definition of the category of "qualified investors" of CVM Instruction No. 409.
The rule of rotation of audit firms is mandatory for all Brazilian companies that are subject to the supervision and control of the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários - CVM).
In order to remunerate the invested capital, Brazilian companies are allowed to distribute earnings to their shareholders in the form of dividends or under the concept of interest on net equity (juros sobre o capital próprio – JCP).
Techpack is an investment vehicle owned by Chilean business group Luksic.
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