{"id":4988,"date":"2024-10-11T10:34:21","date_gmt":"2024-10-11T13:34:21","guid":{"rendered":"https:\/\/artica.capital\/clairfield-pilulas\/a-historia-das-debentures-da-criacao-as-regulamentacoes-no-brasil\/"},"modified":"2026-09-30T08:41:16","modified_gmt":"2026-09-30T11:41:16","slug":"a-historia-das-debentures-da-criacao-as-regulamentacoes-no-brasil","status":"publish","type":"pilulas","link":"https:\/\/artica.capital\/en\/clairfield-pilulas\/a-historia-das-debentures-da-criacao-as-regulamentacoes-no-brasil\/","title":{"rendered":"The history of debentures: from creation to regulations in Brazil"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A hist\u00f3ria das deb\u00eantures remonta \u00e0 Idade M\u00e9dia, mas elas foram consolidadas pelos ingleses como um instrumento de cr\u00e9dito corporativo. No Brasil, sua origem est\u00e1 ligada \u00e0 vinda da fam\u00edlia real portuguesa e ao in\u00edcio do per\u00edodo industrial. A regulamenta\u00e7\u00e3o do mercado financeiro brasileiro fez das deb\u00eantures um dos principais instrumentos de d\u00edvida corporativa. Ap\u00f3s o Plano Real e com o desenvolvimento do mercado de capitais, as emiss\u00f5es de deb\u00eantures atingiram mais de R$ 2,5 trilh\u00f5es de reais em ofertas prim\u00e1rias no pa\u00eds (de janeiro de 1995 at\u00e9 setembro de 2024).<\/p>\n\n\n\n<!-- pilula-html v1 -->\n<style>\n.pil{--navy:#2d3a51;--blue:#4f6388;--light:#8599b9;--pale:#e8ebf1;--card:#d3d9e3;--red:#c0272d;--txt:#333;font-family:\"Merriweather Sans\",sans-serif;color:var(--txt);margin-top:40px}\n.pil *{box-sizing:border-box}\n.pil img{max-width:100%;height:auto;display:block}\n.pil-sec{margin:0 0 56px}\n.pil-sec h2{background:var(--navy);color:#fff;font-size:19px;line-height:1.35;font-weight:700;padding:16px 20px;border-radius:0 0 28px 0;margin:0 0 20px;text-wrap:balance}\n.pil-sub{font-size:14px;font-weight:700;color:var(--navy);border-bottom:2px solid var(--navy);padding-bottom:6px;margin:0 0 16px;display:flex;justify-content:space-between;gap:12px;align-items:flex-end}\n.pil-tag{color:var(--red);border-top:2px solid var(--red);border-bottom:2px solid var(--red);font-size:12px;padding:2px 8px;white-space:nowrap}\n.pil-unit{font-size:12px;font-style:italic;color:#999;font-weight:700}\n.pil-src{font-size:11px;color:#777;margin-top:14px;line-height:1.5}\n.pil-p{font-size:14px;line-height:1.6;margin:0 0 12px}\n.pil-note{display:flex;gap:12px;align-items:center;background:var(--pale);border:1.5px dashed var(--navy);border-radius:10px;padding:12px 16px;font-size:14px;line-height:1.55;margin-top:18px}\n.pil-note::before{content:\"\";flex:none;width:26px;height:26px;border-radius:50%;background:var(--navy) url(\"data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 24 24' fill='none' stroke='white' stroke-width='1.8' stroke-linecap='round'%3E%3Cpath d='M9 18h6M10 21h4M12 3a6 6 0 0 0-3.5 10.9c.6.5 1 1.2 1 2.1h5c0-.9.4-1.6 1-2.1A6 6 0 0 0 12 3z'\/%3E%3C\/svg%3E\") center\/16px no-repeat}\n.pil-note.solid{border-style:solid;background:#fff;box-shadow:0 2px 6px rgba(0,0,0,.12)}\n.pil-note.solid::before{display:none}\n.pil-grid2{display:grid;grid-template-columns:1fr 1fr;gap:24px}\n.pil-grid2.wide-left{grid-template-columns:1.75fr 1fr}\n.pil-grid2.wide-right{grid-template-columns:1fr 1.75fr}\n.pil-grid3{display:grid;grid-template-columns:repeat(3,1fr);gap:20px}\n.pil-grid4{display:grid;grid-template-columns:repeat(4,1fr);gap:16px}\n.pil-grid5{display:grid;grid-template-columns:repeat(5,1fr);gap:12px}\n.pil-grid2>*,.pil-grid3>*,.pil-grid4>*,.pil-grid5>*{min-width:0}\n.pil-legend{font-size:12px;display:flex;gap:14px;justify-content:flex-end;flex-wrap:wrap;margin-bottom:6px}\n.pil-legend span{display:inline-flex;align-items:center;gap:6px}\n.pil-legend i{width:14px;height:10px;display:inline-block}\n\/* grafico de colunas: .pil-bars > div[style=height:%] > span (valor); 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Similares pelo seu fracionamento, ocorreu a forma\u00e7\u00e3o de uma entidade para representar os titulares das obriga\u00e7\u00f5es (Casa de San Giorgio).<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4988-castelo.png\" alt=\"Ilustra\u00e7\u00e3o de um castelo medieval\" loading=\"lazy\" style=\"width:140px;height:110px;object-fit:contain;margin:0 auto;display:block\"><\/div><\/div>\n    <div><b class=\"y\">2<\/b><div style=\"display:grid;grid-template-columns:1fr 150px;gap:16px;align-items:center\"><p class=\"pil-p\" style=\"margin:0\">Na <b>Inglaterra<\/b>, o instrumento ganhou visibilidade. Registros de 1415 mostram o uso de &#8220;debentur&#8221; em reclama\u00e7\u00f5es sobre pagamentos a Henrique IV, e os primeiros certificados de d\u00edvida da Coroa eram chamados assim.<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4988-inglaterra.png\" alt=\"Ilustra\u00e7\u00e3o de cavaleiro com a bandeira do Reino Unido e um moinho de vento\" loading=\"lazy\" style=\"width:140px;height:110px;object-fit:contain;margin:0 auto;display:block\"><\/div><\/div>\n    <div><b class=\"y\">3<\/b><p class=\"pil-p\" style=\"margin:0\">A <b>Hudson\u2019s Bay Company<\/b> foi pioneira no uso de deb\u00eantures no setor privado, emitindo-as entre 1671 e 1674 para expandir a explora\u00e7\u00e3o comercial.<\/p><\/div>\n    <div><b class=\"y\">4<\/b><div style=\"display:grid;grid-template-columns:1fr 150px;gap:16px;align-items:center\"><p class=\"pil-p\" style=\"margin:0\">No s\u00e9culo XIX foi importante para financiar grandes projetos industriais. A lei brit\u00e2nica <b>Mortgage Debentures Act de 1865<\/b> disseminou o uso da palavra deb\u00eanture para outros pa\u00edses como \u201cobriga\u00e7\u00e3o\u201d. A lei regulamentou a emiss\u00e3o de deb\u00eantures garantidas por hipotecas imobili\u00e1rias.<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4988-fabrica.png\" alt=\"Ilustra\u00e7\u00e3o de uma f\u00e1brica com chamin\u00e9s\" loading=\"lazy\" style=\"width:140px;height:110px;object-fit:contain;margin:0 auto;display:block\"><\/div><\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: AMARAL, Jos\u00e9 Romeu Garcia do. Ensaio sobre o regime jur\u00eddico das deb\u00eantures. Mestrado Direito USP-SP; OLIVEIRA, Leonardo e FARIA, Henderson. A evolu\u00e7\u00e3o hist\u00f3rica das deb\u00eantures e seu surgimento no contexto jur\u00eddico brasileiro. UNIMONTES<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>As deb\u00eantures no Brasil est\u00e3o ligadas a vinda da fam\u00edlia real portuguesa e estabelecimento do per\u00edodo industrial no pa\u00eds<\/h2>\n  <div class=\"pil-time\">\n    <div><b class=\"y\">5<\/b><div style=\"display:grid;grid-template-columns:1fr 150px;gap:16px;align-items:center\"><p class=\"pil-p\" style=\"margin:0\">Em 1808, durante sua estada no Brasil, <b>Dom Jo\u00e3o<\/b> abriu os portos \u00e0s na\u00e7\u00f5es amigas, encerrando o sistema colonial, e no Rio de Janeiro, promoveu a industrializa\u00e7\u00e3o com subs\u00eddios e isen\u00e7\u00f5es fiscais.<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4988-navio.png\" alt=\"Ilustra\u00e7\u00e3o de uma caravela\" loading=\"lazy\" style=\"width:140px;height:110px;object-fit:contain;margin:0 auto;display:block\"><\/div><\/div>\n    <div><b class=\"y\">6<\/b><div style=\"display:grid;grid-template-columns:1fr 150px;gap:16px;align-items:center\"><p class=\"pil-p\" style=\"margin:0\">O reconhecimento da d\u00edvida p\u00fablica no Brasil ocorreu em 1827, com capta\u00e7\u00f5es do <b>Banco do Brasil<\/b> para financiar suas atividades.<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4988-imperio.png\" alt=\"Ilustra\u00e7\u00e3o de cavaleiro com a bandeira do Imp\u00e9rio do Brasil\" loading=\"lazy\" style=\"width:140px;height:110px;object-fit:contain;margin:0 auto;display:block\"><\/div><\/div>\n    <div><b class=\"y\">7<\/b><p class=\"pil-p\" style=\"margin:0\"><b>C\u00f3digo Comercial (1850)<\/b> regulamentou a atividade empresarial e trouxe as primeiras bases legais para as sociedades por a\u00e7\u00f5es no Brasil, incluindo a possibilidade de emiss\u00e3o de t\u00edtulos de cr\u00e9dito.<\/p><\/div>\n    <div><b class=\"y\">8<\/b><div style=\"display:grid;grid-template-columns:1fr 150px;gap:16px;align-items:center\"><p class=\"pil-p\" style=\"margin:0\"><b>A Lei n\u00ba 1.083, de 22 de agosto de 1860<\/b>, foi a primeira a usar o termo &#8220;t\u00edtulo ao portador&#8221; e proibiu as empresas de emitir esses t\u00edtulos sem autoriza\u00e7\u00e3o do Legislativo, com exce\u00e7\u00e3o das institui\u00e7\u00f5es financeiras.<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4988-cafe.png\" alt=\"Ilustra\u00e7\u00e3o de colheita de caf\u00e9\" loading=\"lazy\" style=\"width:140px;height:110px;object-fit:contain;margin:0 auto;display:block\"><\/div><\/div>\n    <div><b class=\"y\">9<\/b><div style=\"display:grid;grid-template-columns:1fr 150px;gap:16px;align-items:center\"><p class=\"pil-p\" style=\"margin:0\">O primeiro uso registrado do termo <b>deb\u00eantures<\/b> no Brasil foi no decreto n\u00ba 8.821 de 30 de dezembro de 1882.<\/p><img decoding=\"async\" src=\"https:\/\/artica.capital\/wp-content\/uploads\/2026\/09\/4988-bonde.png\" alt=\"Ilustra\u00e7\u00e3o de um bonde\" loading=\"lazy\" style=\"width:140px;height:110px;object-fit:contain;margin:0 auto;display:block\"><\/div><\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: AMARAL, Jos\u00e9 Romeu Garcia do. Ensaio sobre o regime jur\u00eddico das deb\u00eantures. Mestrado Direito USP-SP; OLIVEIRA, Leonardo e FARIA, Henderson. A evolu\u00e7\u00e3o hist\u00f3rica das deb\u00eantures e seu surgimento no contexto jur\u00eddico brasileiro. UNIMONTES<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>A regulamenta\u00e7\u00e3o do mercado financeiro brasileiro tornou as emiss\u00f5es de deb\u00eantures os principais instrumentos de d\u00edvida corporativa<\/h2>\n  <div class=\"pil-grid2 wide-right\">\n    <div style=\"display:grid;gap:16px;align-content:start\">\n      <div class=\"pil-fact dark\"><b>LEI N\u00ba 6.385 (1976):<\/b><br>Cria\u00e7\u00e3o da CVM e disposi\u00e7\u00e3o sobre o mercado de valores mobili\u00e1rios<\/div>\n      <div class=\"pil-fact dark\"><b>LEI N\u00ba 6.404 (1976):<\/b><br>Lei das S.A. com regulamenta\u00e7\u00e3o das deb\u00eantures e suas caracter\u00edsticas<\/div>\n    <\/div>\n    <div>\n      <div class=\"pil-legend\" style=\"justify-content:flex-start\"><span><i style=\"background:var(--light)\"><\/i><span>Quantidade de emiss\u00f5es acumuladas (ofertas ativas e encerradas)<\/span><\/span><\/div>\n      <div class=\"pil-bars\" style=\"height:280px\" role=\"img\" aria-label=\"Quantidade de emiss\u00f5es de deb\u00eantures acumuladas: 1981 11; 1986 29; 1991 260; 1996 934; 2001 1.344; 2006 1.583; 2011 2.225; 2016 3.829; 2021 6.214; setembro de 2024 7.832\">\n        <div style=\"height:0.2%\"><span>11<\/span><\/div>\n        <div style=\"height:0.4%\"><span>29<\/span><\/div>\n        <div style=\"height:3.3%\"><span>260<\/span><\/div>\n        <div style=\"height:11.9%\"><span>934<\/span><\/div>\n        <div style=\"height:17.2%\"><span>1.344<\/span><\/div>\n        <div style=\"height:20.2%\"><span>1.583<\/span><\/div>\n        <div style=\"height:28.4%\"><span>2.225<\/span><\/div>\n        <div style=\"height:48.9%\"><span>3.829<\/span><\/div>\n        <div style=\"height:79.3%\"><span>6.214<\/span><\/div>\n        <div style=\"height:100%;background:#bfbfbf\"><span>7.832<\/span><\/div>\n      <\/div>\n      <div class=\"pil-years\"><span>1981<\/span><span>1986<\/span><span>1991<\/span><span>1996<\/span><span>2001<\/span><span>2006<\/span><span>2011<\/span><span>2016<\/span><span>2021<\/span><span>SET 2024<\/span><\/div>\n    <\/div>\n  <\/div>\n  <div class=\"pil-src\">Fonte: An\u00e1lise \u00c1rtica; Anbima; Deb\u00eanture.com<\/div>\n<\/section>\n\n<section class=\"pil-sec\">\n  <h2>Com a estabilidade econ\u00f4mica ap\u00f3s o Plano Real e o desenvolvimento de mercado, as emiss\u00f5es de deb\u00eantures cresceram exponencialmente<\/h2>\n  <div class=\"pil-grid2\" style=\"gap:12px 28px;margin-bottom:20px\">\n    <div class=\"pil-fact dark\"><b>INSTRU\u00c7\u00c3O CVM 400 (2003) E 476 (2009):<\/b><br>Regras para ofertas p\u00fablicas de distribui\u00e7\u00e3o de valores mobili\u00e1rios<\/div>\n    <div class=\"pil-fact dark\"><b>LEI N\u00ba 12.431 (2011):<\/b><br>Incentivos fiscais para deb\u00eantures vinculadas a projetos de infraestrutura<\/div>\n    <div class=\"pil-fact dark\"><b>RESOLU\u00c7\u00c3O CVM 160 (2022):<\/b><br>Reformula\u00e7\u00e3o das regras para ofertas p\u00fablicas<\/div>\n    <div class=\"pil-fact dark\"><b>LEI N\u00ba 14.801 (2024):<\/b><br>Cria\u00e7\u00e3o das deb\u00eantures de infraestrutura<\/div>\n  <\/div>\n  <div class=\"pil-legend\" style=\"justify-content:flex-start\"><span><i style=\"background:var(--light)\"><\/i><span>Volume anual de emiss\u00f5es (R$ bilh\u00f5es)<\/span><\/span><\/div>\n  <div class=\"pil-bars\" style=\"gap:1%\" role=\"img\" aria-label=\"Volume anual de emiss\u00f5es de deb\u00eantures, em R$ bilh\u00f5es: 1995 8; 1996 9; 1997 8; 1998 7; 1999 5; 2000 10; 2001 13; 2002 13; 2003 6; 2004 13; 2005 49; 2006 64; 2007 56; 2008 22; 2009 29; 2010 55; 2011 63; 2012 131; 2013 92; 2014 137; 2015 76; 2016 80; 2017 97; 2018 154; 2019 194; 2020 122; 2021 249; 2022 265; 2023 237; setembro de 2024 316\">\n    <div style=\"height:2.5%\"><span>8<\/span><\/div>\n    <div style=\"height:2.8%\"><span>9<\/span><\/div>\n    <div style=\"height:2.5%\"><span>8<\/span><\/div>\n    <div style=\"height:2.2%\"><span>7<\/span><\/div>\n    <div style=\"height:1.6%\"><span>5<\/span><\/div>\n    <div style=\"height:3.2%\"><span>10<\/span><\/div>\n    <div style=\"height:4.1%\"><span>13<\/span><\/div>\n    <div style=\"height:4.1%\"><span>13<\/span><\/div>\n    <div style=\"height:1.9%\"><span>6<\/span><\/div>\n    <div style=\"height:4.1%\"><span>13<\/span><\/div>\n    <div style=\"height:15.5%\"><span>49<\/span><\/div>\n    <div style=\"height:20.3%\"><span>64<\/span><\/div>\n    <div style=\"height:17.7%\"><span>56<\/span><\/div>\n    <div style=\"height:7%\"><span>22<\/span><\/div>\n    <div style=\"height:9.2%\"><span>29<\/span><\/div>\n    <div style=\"height:17.4%\"><span>55<\/span><\/div>\n    <div style=\"height:19.9%\"><span>63<\/span><\/div>\n    <div style=\"height:41.5%\"><span>131<\/span><\/div>\n    <div style=\"height:29.1%\"><span>92<\/span><\/div>\n    <div style=\"height:43.4%\"><span>137<\/span><\/div>\n    <div style=\"height:24.1%\"><span>76<\/span><\/div>\n    <div style=\"height:25.3%\"><span>80<\/span><\/div>\n    <div style=\"height:30.7%\"><span>97<\/span><\/div>\n    <div style=\"height:48.7%\"><span>154<\/span><\/div>\n    <div style=\"height:61.4%\"><span>194<\/span><\/div>\n    <div style=\"height:38.6%\"><span>122<\/span><\/div>\n    <div style=\"height:78.8%\"><span>249<\/span><\/div>\n    <div style=\"height:83.9%\"><span>265<\/span><\/div>\n    <div style=\"height:75%\"><span>237<\/span><\/div>\n    <div style=\"height:100%;background:#bfbfbf\"><span>316<\/span><\/div>\n  <\/div>\n  <div class=\"pil-years\" style=\"gap:1%\"><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">1995<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">1996<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">1997<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">1998<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">1999<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2000<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2001<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2002<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2003<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2004<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2005<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2006<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2007<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2008<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2009<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2010<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2011<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2012<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2013<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2014<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2015<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2016<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2017<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2018<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2019<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2020<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2021<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2022<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">2023<\/span><span style=\"writing-mode:vertical-rl;transform:rotate(180deg);margin:0 auto\">SET 2024<\/span><\/div>\n  <div class=\"pil-card\" style=\"background:var(--navy);color:#fff;text-align:center;font-size:15px;margin-top:18px\"><span><b>R$ 2.579 bilh\u00f5es em emiss\u00f5es<\/b> entre janeiro de 1995 e setembro de 2024<\/span><\/div>\n  <div class=\"pil-src\">Fonte: An\u00e1lise \u00c1rtica; Anbima; Deb\u00eanture.com<\/div>\n<\/section>\n\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>A hist\u00f3ria das deb\u00eantures remonta \u00e0 Idade M\u00e9dia, mas elas foram consolidadas pelos ingleses como um instrumento de cr\u00e9dito corporativo. No Brasil, sua origem est\u00e1 ligada \u00e0 vinda da fam\u00edlia real portuguesa e ao in\u00edcio do per\u00edodo industrial. <\/p>","protected":false},"author":1,"featured_media":4983,"template":"","meta":[],"class_list":["post-4988","pilulas","type-pilulas","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas\/4988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas"}],"about":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/types\/pilulas"}],"author":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media\/4983"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=4988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}