Insurance for Incentivized Debentures
Debentures are active debt securities belonging to the fixed income fund. In the incentivized modality, they provide a greater stimulus to the investor because they are exempt from income tax.
The purpose of the incentivized debentures is to raise funds to pay for major works in the country, for this reason there is government support aimed at improvements for all.
Infrastructure works, such as the construction of a highway, an airport or a hospital, are large works that benefit the population, but demand high investment. It is precisely in this context that incentivized debentures come into play.
Classified as fixed income, this is a medium and long-term investment, considered safe and stable. Despite this characteristic, market fluctuations can compromise the investment and affect investors.
The Incentive Debenture Insurance is a policy that aims to guarantee the default risk of the issuers of infrastructure incentive debentures in a swap transaction signed between them and the investors directly. If the issuer does not pay the predetermined exchange rate variation, then the policy is triggered.
The insurance is contracted by the issuer itself, renewed annually, until the maturity of the debenture.
In the case of several debenture holders, the fiduciary agent responsible for representing investors and triggering a claim was created.
The amount insured will be the pre-defined exchange rate variation at the time of issuance of the policy, calculated according to the future curves of B3.