CMS Luxembourg has advised Upwood, a technology-driven investment platform focused on the acquisition, management, and tokenisation of forestry assets, on the structuring and launch of 3Pine Capital S.à r.l., a Luxembourg securitisation vehicle established for the issuance of tokenised notes backed by forestry assets located in Latvia.
The inaugural issuance, amounting to EUR 7.156 million, consists of secured fixed-rate tokenised notes backed by a portfolio of productive forestry assets in Latvia. The transaction combines Luxembourg securitisation structures with blockchain technology and represents an innovative application of tokenisation to real-world assets.
CMS Luxembourg acted as Luxembourg legal counsel to Upwood in connection with the establishment of the securitisation vehicle, the structuring of the offering and the preparation and negotiation of the transaction documentation, including the offering memorandum and related contractual arrangements.
Volodymyr Havrylyuk-Yensen, Chief Legal Officer of Upwood, comments: "Your team's input has been consistently practical and commercially sensible, and we appreciate the responsiveness and support through the final stretch. It has been a genuine pleasure to work alongside you, and we very much hope this is the first of many collaborations."
The CMS Luxembourg team was led by José Juan Ocaña (Counsel), with the support of Stamatina Stylianopoulou and Michel Btechs (Managing Associates).
