March, 20 - 2023
R5 INDUSTRIAL PARK GUARANTEE TRUST
PERSEPHONE S.A and República de Negocios Fiduciarios established the “RUTA 5 INDUSTRIAL PARK GUARANTEE TRUST”.
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February, 05 - 2021
República Negocios incorporates three new Trusts
In the month of December 2020, the signing of three new trusts was finalized, in which República Negocios Fiduciarios S.A acts as Trustee.
On December 14, 2020, the contract for the "San Roque Guarantee Trust" was signed with San Roque S.A. as settlor. This trust is constituted with the assignment of collections for sales with credit and debit cards of a group of selected branches and its purpose is to guarantee the repayment of the credits granted by the BROU to the settlor.
Likewise, on December 21, 2020, the contract for the “PPP Route No. 3 Trust, section Route No. 1 - Route No. 11 and By Pass to the city of San José de Mayo” was signed with the Ministry of Transportation and Public Works as settlor.
The administration trust is constituted for the purposes of compliance with some of the obligations of the National Highway Directorate of the MTOP in relation to the PPP Contract.
The contract provides for the creation of two sub-funds in the same trust assets, which must be managed according to their purpose. The first sub-fund called Provision Fund, is created in order to ensure compliance with the final state of the circuit and the second sub-fund called Comptroller Fund, is created to cover the costs of controlling the correct execution of the contract by the MTOP.
Finally, on December 29, 2020, the “Calcar Guarantee Trust” contract was signed with the Cooperativa Agraria de Responsabilidad Limitada Carmelo (Calcar) as settlor.
This trust is constituted with the assignment of collections for CALCAR sales in the local market and its purpose is to guarantee payment of the Private Reorganization Agreement (APR) signed with its Creditors
