PERU Ministry of Economy and Finance
SMV
Superintendency of the Market in Securities

"Decade of Equal Opportunities for Women and Men" "Year of the Bicentennial, of the consolidation of our Independence, and of the commemoration of the heroic battles of Junín and Ayacucho"

Resolution of the General Intendancy of Supervision of Entities

No. 103-2024-SMV/10.2

Lima, 31 July 2024

The General Intendant of Supervision of Entities (e)

WHEREAS:

File No. 2024029188 submitted by Scotia Sociedad Titulizadora S.A., as well as Report No. 968-2024-SMV/10.2 dated 31 July 2024 from the General Intendancy of Supervision of Entities of the Superintendency of the Securities Market;

CONSIDERING:

That, by Resolution of the General Intendancy of Supervision of Entities No. 008-2017-SMV/10.2 dated 12 January 2017, the registration of the securitization bond program called "First Securitization Bond Program – Inmuebles Panamericana S.A. and Subsidiaries", of the bonds corresponding to the first issue of the "First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – First Issue" and of the second issue of the "First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – Second Issue", of the trust estate called "Trust Estate Supreme Decree No. 093-2002-EF, Title XI, Securitization Bonds IPSA and Subsidiaries", as well as of the corresponding framework prospectus and complementary prospectus, in the Public Registry of the Securities Market;

That, by communication submitted on 05 July 2024, Scotia Sociedad Titulizadora S.A. requested the exclusion of the securities corresponding to the first issue of the "First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – First Issue" and to the second issue of the "First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – Second Issue" from the Public Registry of the Securities Market and from the Securities Registry of the Lima Stock Exchange S.A.;

That, in support of its request, Scotia Sociedad Titulizadora S.A. submitted a simple copy of the testimony of the public deed called "Cancellation of the First Securitization Bond Program Inmuebles Panamericana S.A. and Subsidiaries", granted by Scotia Sociedad Titulizadora S.A. as trustee of the trust estate called "Trust Estate Supreme Decree No. 093-2002-EF, Title XI, Securitization Bonds IPSA and Subsidiaries", before notary Paul John Hinojosa Carrillo, on 31 May 2024;

That, the second clause of the agreement of "Cancellation of the First Securitization Bond Program Inmuebles Panamericana S.A. and Subsidiaries", states that Scotia Sociedad Titulizadora S.A. as issuer made the total redemption of the securitization bonds corresponding to the first issue of the "First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – First Issue" and to the second issue of the "First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – Second Issue";

That, in the third clause of the agreement of "Cancellation of the First Securitization Bond Program Inmuebles Panamericana S.A. and Subsidiaries", Scotia Sociedad Titulizadora S.A. declares that as of the date of execution of the aforementioned agreement, it has complied with paying the redemption price through CAVALI S.A. ICLV, to all holders of the securitization bonds of the first issue and of the second issue of the program, as stated in the certificate issued by CAVALI S.A. ICLV dated 02 April 2024;

That, in accordance with the provisions of article 39, literal b) of the Single Ordered Text of the Securities Market Law, Supreme Decree No. 020-2023-EF; in accordance with the provisions of article 23, first paragraph, subsection i) of the Regulation for Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange, approved by SMV Resolution No. 031-2012-SMV/01 and its amendments, the exclusion of a security from the Public Registry of the Securities Market proceeds at the request of the issuer, by reasoned resolution of the Superintendency of the Securities Market, when the rights over the security have been extinguished, by amortization, total redemption or another cause, without the need to carry out a public offering of purchase referred to in article 41 of the Single Ordered Text of the Securities Market Law;

That, in accordance with the provisions of article 21 of the Regulation for Registration and Exclusion of Securities in the Public Registry of the Securities Market and in the Stock Exchange, compliance with the requirements for the exclusion of the bonds corresponding to the first issue to the first issue of the "First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – First Issue" and to the second issue of the "First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – Second Issue", from the Public Registry of the Securities Market, as a consequence of their cancellation, was verified, as developed in Report No. 968-2024-SMV/10.2 dated 31 July 2024, of the General Intendancy of Supervision of Entities;

That, in view of the foregoing in the preceding paragraphs, it is appropriate to exclude the securities corresponding to the first issue of the "First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – First Issue" and to the second issue of the "First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – Second Issue", in application of the provisions of article 48 of the Regulation of the Public Registry of the Securities Market, approved by Conasev Resolution No. 079-97-EF/94.10 and its amendments;

That, the last paragraph of subsection 14.2.3 of article 14 of the Regulation of Primary Public Offering and Sale of Securities, approved by Conasev Resolution No. 141-98-EF/94.10 and its amendments, establishes that in the event that no security has been placed under the program or when, having been placed, the security or securities have been extinguished, the issuer may request the exclusion of the security from the Public Registry of the Securities Market and that the registration of the program be left without effect; therefore, upon excluding, by means of this resolution, the only securities that remained registered under the securitization bond program called “First Securitization Bond Program – Inmuebles Panamericana S.A. and Subsidiaries”, it is appropriate that said program also be excluded from the Public Registry of the Securities Market by virtue of the request made by Scotia Sociedad Titulizadora S.A.;

That, article 43 of the Regulation of Asset Securitization Processes, approved by Conasev Resolution No. 001-97-EF/94.10 and its amendments, establishes that the registration of securities under securitization processes implies the registration of the trust estate in the corresponding section of the Public Registry of the Securities Market; likewise, article 48 of the same regulation establishes that the registration of the issuance program implies the registration of the trust estate in the aforementioned registry. Consequently, the exclusion of the securities corresponding to the first and second issuance of the securitization bond program called “First Securitization Bond Program – Inmuebles Panamericana S.A. and Subsidiaries”, entails the exclusion of the trust estate called “Trust Estate Supreme Decree No. 093-2002-EF, Title XI, Securitization Bonds IPSA and Subsidiaries” from the Public Registry of the Securities Market;

In accordance with the provisions of article 38, numeral 8, of the Regulation of Organization and Functions of the Superintendency of the Securities Market, approved by Supreme Decree No. 216-2011-EF and its amendment.

RESOLVES:

Article 1.- To order the exclusion of the securitization bonds corresponding to the “First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – First Issuance” and to the “First Securitization Bond Program - Inmuebles Panamericana S.A. and Subsidiaries – Second Issuance”, from the Public Registry of the Securities Market.

Article 2.- To rule in favor of the exclusion of the securities indicated in the preceding article of this resolution from the Securities Registry of the Lima Stock Exchange S.A.

Article 3.- To order the exclusion of the program called “First Securitization Bond Program – Inmuebles Panamericana S.A. and Subsidiaries”, from the Public Registry of the Securities Market.

Article 4.- To order the ex officio exclusion of the trust estate called “Trust Estate Supreme Decree No. 093-2002-EF, Title XI, Securitization Bonds IPSA and Subsidiaries” from the Public Registry of the Securities Market.

Article 5.- To order the dissemination of this resolution on the Securities Market Portal of the Superintendency of the Securities Market (www.gob.pe/smv).

Article 6.- To transcribe this resolution to Scotia Sociedad Titulizadora S.A., in its capacity as trustee, as well as to the Lima Stock Exchange S.A. and to Cavali S.A. ICLV.

Register, communicate and publish.

Marcela Seraylan Ormachea
General Intendant (e)
General Intendancy of Supervision of Entities