PPO, together with international and regional firms, advised Frigorífico BFC SA (“BFC”) and Frigorífico Concepción SA (“FCSA”) in the offer and placement by FCSA of guaranteed bonds for $ 40 million in the Stock Exchange of New York, maturing in 2025. The issuance was a continuation of a previous bond placement for $ 100 million, an operation that closed in January 2020.
PPO advised on all legal matters of the transaction, including the structuring of the guarantee from a commercial and tax perspective so that it complies with the regulations of Bolivia and Paraguay.
The financing is highly relevant for BFC, as it will receive a substantial part of the issuance funds in order to modernize and expand its meat processing plant to meet the growing demand.
BFC’s meat processing plant is located in San Ignacio de Velasco, Santa Cruz. Thanks to its strategic location, BFC is supplied with top quality meat which is exported to China and Russia. BFC is a partially owned subsidiary of FCSA.