Can a private placement be characterized as an irregular public offering?
Can a Private Placement Be Characterized as an Irregular Public Offering? Your company decides to raise capital through a private placement of debentures, commercial notes, closed-end fund units, or even a convertible loan, often to avoid the cost and timeframe of a public offering registered with the CVM (Brazilian Securities and Exchange Commission). But a question arises […]
Debentures, CRIs, CRAs, Financial Bills, and Commercial Notes: Do You Know the Difference?
Fundraising and Investment Instruments: An Overview In the dynamic landscape of the capital market, choosing the right fundraising instrument is a strategic step that defines the cost of capital, the term, and the guarantees of a transaction. Although debentures, CRIs (Real Estate Receivables Certificates), CRAs (Agribusiness Receivables Certificates), financial bills, and commercial notes are frequent tools for generating liquidity, […]
Law No. 14,801/2023 was enacted, creating Infrastructure Debentures
By Moema Giovanella This Wednesday (10) the Executive Government sanctioned, without vetoes, the new Law No. 14,801/2023, which creates Infrastructure Debentures. Despite differing from Incentivized Debentures, which grant benefits to the purchasers of the securities, the new instrument does not eliminate them. According to the new device, special purpose companies, concessionaires, […]
Approval of Bill 2.646/20 by the Senate
By Moema Giovanella On September 19, 2023, the Federal Senate approved Bill 2.646/20 (“PL 2.646/20”), which establishes tax benefits for infrastructure projects in the country, through infrastructure debentures, proposing changes to the current regulation of incentivized debentures. The text, from the Chamber of Deputies, […]