{"id":5184,"date":"2023-10-31T10:46:31","date_gmt":"2023-10-31T13:46:31","guid":{"rendered":"https:\/\/artica.capital\/clairfield-pilulas\/o-papel-das-notas-comerciais-e-debentures-no-desenvolvimento-do-mercado-de-credito-privado-brasileiro\/"},"modified":"2025-08-21T15:02:38","modified_gmt":"2025-08-21T18:02:38","slug":"o-papel-das-notas-comerciais-e-debentures-no-desenvolvimento-do-mercado-de-credito-privado-brasileiro","status":"publish","type":"pilulas","link":"https:\/\/artica.capital\/en\/clairfield-pilulas\/o-papel-das-notas-comerciais-e-debentures-no-desenvolvimento-do-mercado-de-credito-privado-brasileiro\/","title":{"rendered":"The role of commercial paper and debentures in the development of the Brazilian private credit market"},"content":{"rendered":"

Carrying out your first debt issuance on the market can be challenging. Structuring an instrument requires compliance with specific regulations, and the distribution process can be complex because the company is not yet known to the market\u2014often increasing costs in terms of fees and collateral requirements. Other instruments are restricted to companies with a certain level of governance\u2014such as debentures, which can only be issued by public limited companies.<\/p>\n\n\n\n

With these challenges in mind, public and private institutions have worked together to develop the private credit market and facilitate access to it for companies. One such example is the specific regulation of Commercial Notes, enacted in 2021. Since then, the volume of Commercial Note issuances has grown, and the instrument has proven to be a viable option for companies entering the capital markets. This way, companies can prepare for the next steps in governance\u2014such as becoming a public limited company to enable the issuance of debentures and access to more liquid markets\u2014without missing out on fundraising opportunities at attractive costs and terms.<\/p>\n\n\n\n\n

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Realizar a primeira emiss\u00e3o de d\u00edvida a mercado pode ser desafiador. A estrutura\u00e7\u00e3o de um instrumento exige cumprimento de regulamenta\u00e7\u00f5es espec\u00edficas e o processo de distribui\u00e7\u00e3o pode ser complexo pelo fato da empresa ainda n\u00e3o ser conhecida pelo mercado \u2013 muitas vezes aumentando os custos em termos de taxa e exig\u00eancia de garantias. <\/p>","protected":false},"author":1,"featured_media":5180,"template":"","meta":[],"class_list":["post-5184","pilulas","type-pilulas","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/pilulas\/5184","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\/5180"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=5184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}