Vouga Abogados Advises Tape Pora S.A. in a New Issuance of Bonds for the Partial Financing of the Works of the Concession of Route No. 7
June, 2020 - Paraguay
| Vouga Abogados assisted Tape Pora S.A. in a new issuance of bonds aimed at partially financing the works in connection with the construction, duplication and adaptation of Route No. 7 "Gaspar Rodríguez de Francia" located in the Pastoreo and Minga Guazú area. The total amount of the bonds placed was equal to 65 billion guaraníes (nearly US$ 10 million) and were entirely acquired by local investors. The bond issuer and the bondholders signed an agreement aimed at the acquisition of the bonds issued and listed by the bond issuer at the Stock Exchange of Asunción (i.e."Bolsa de Valores y Productos de Asunción S.A. (BVPASA), under the PEG04 Global Issuance Program. In order to secure the invertor’s payment, the bond issuer set up a management and payment source trust (the Trust) through which it has transferred the Trust all surplus coming from the management and payment trust incorporated in 2017, called Tape Pora 02, whose autonomous assets are made up of the rights to collect the toll from section of Route 7 subjected to concession. The creation of the Trust, called Tape Pora 04 implies a subordination of the debt service by priority of payment of the bonds under the PEG02 Global Issuance Program as well as the bonds under the PEG03 Global Issuance Program, to the bonds issued under the PEG04 Global Issuance Program. The parties involved in the transaction were: -- The team of Vouga Abogados involved in the transaction was led by Cynthia Fatecha (Partner, Banking & Finance) and Carlos Vouga Z. (Partner, Banking & Finance). -- Tape Porã S.A. - Concessionaire, Bond Issuer and Trustor -- Banco Atlas S.A.E.C.A. - Trustee. -- BASA CASA DE BOLSA S.A.E.C.A. - Investor and Beneficiary. To learn more about this transaction or if you have any questions related to the Banking & Finance area, please contact Cynthia Fatecha ([email protected]), Carlos Vouga Z. ([email protected]), Georg Birbaumer ([email protected]) or Lorena Salcedo ([email protected]) |
