The capital raising in the securities market, carried out by Oderich—a publicly traded company and one of Brazil’s leading enterprises in the food sector—and approved on 27 September, was paved with the legal advice of Martinelli Advogados. The firm, one of the largest law ones in the country, played a role in the issuance of agribusiness receivables certificates (CRA) backed by straightforward debentures issued by the company, valued at R$ 99 million.
“We are very pleased to serve as legal advisors to our client in the debt issuance process involving the structuring of a CRA. Oderich is one of the leading companies in the Brazilian market in their sector. This reinforces our expertise in advisory work of this nature, from the initial negotiations to the settlement of the issuance,” says Walter H. Fritzke, Head of Financial Services at Martinelli Advogados.
The firm’s work consisted of the contractual analysis of the operation and of the commercial service agreements for the issuance and offering of the CRAs; and also of the review and discussion of all the operation’s documentation and of the necessary corporate acts for the operation.
Martinelli also had an active role throughout the company’s due diligence process, in monitoring the request for offer registration along CVM (Securities and Exchange Commission), and the request for distribution and trading registration of the CRAs, covering all procedures required by B3 (the stock exchange in São Paulo, Brazil).
Oderich (ODER) announced, in a material fact, that the first issuance of straight debentures, non-convertible into shares, of the type with real guarantee and additional surety guarantee, in two series, amounting to R$ 99 million, has been approved. R$ 49.5 million corresponds to the 1st Series Debentures and R$ 49.5 million corresponds to the 2nd Series Debentures, for private allocation (‘issuance’).
This marks another successful legal advisory by Martinelli’s Financial Services and Capital Markets area, which is also engaged in the legal structuring of FIDCs (Investment Funds in Credit Rights) and in financial operations related to these funds.
