Morales & Besa advised Enjoy S.A. in the implementation and conversion of its bonds series Q and R
We successfully advised Enjoy S.A. in the structuring and implementation of the conversion process of its outstanding convertible bonds series “Q” and “R”, issued against the Indenture registered in the Securities Registry of the Financial Market Commission under No. 1,068 (the “Convertible Bonds”), in the context of the implementation of the Judicial Reorganization Agreement of Enjoy S.A. (the “Company”). The conversion process successfully concluded, with the conversion of the 100% of the outstanding Convertible Bonds into ordinary shares of the Company during the conversion period that was effective from April 30, until July 29, 2021.
This transaction required a great coordination among the company, its legal advisors and with the Central Securities Depository (DCV). This is the first time in the history of the local capital market that a convertible bond is fully converted into shares of the issuing company.
The Morales & Besa’s team was composed by partners Guillermo Morales and Andrea Díaz and associate Matías López.