FERRERE led the advice provided to the Uruguayan supermarket chain Ta-Ta S.A., on structuring the largest bond offering by a private company in the Uruguayan capital market. The purposes of the issue were to restructure the company’s financial debt, as well to make investments.

The issue was structured under an Offering Program for a total of up to the equivalent of USD 150 million, to be issued in different series. The amount offered by Ta-Ta S.A. is the largest in Uruguay’s history for private company bonds.

To guarantee the bonds, the issuer established a guarantee trust, to which funds deriving from Visa and Maestro debit and credit cards were transferred. Additionally, companies of the same group, Frontoy S.A. and Baranur S.A., became joint guarantors, to the benefit of bondholders, through the representative entity.

Series 1 of the Offering Program was for an amount equivalent to USD 100 million, for which demand outstripped the offer by 105.76%.

FERRERE’s advice was led by the partner Diego Rodríguez and the associate Cecilia Trujillo.