Aspectos jurídicos das debêntures incentivadas
Tipo
TCC
Data de publicação
2019-12
Periódico
Citações (Scopus)
Autores
Garcia, Leonardo de Carvalho
Orientador
Pinto, Felipe Chiarello De Souza
Título da Revista
ISSN da Revista
Título de Volume
Membros da banca
Programa
Resumo
As debêntures são, atualmente, um dos principais meios de financiamento das atividades empresariais das companhias brasileiras, sendo, inclusive, responsáveis por grande parte do financiamento de infraestrutura nacional, na forma das debêntures de infraestrutura, incentivadas pelo governo federal.
Por meio deste trabalho, no intuito de aprofundar a compreensão de tal instituto, será abordado o histórico de criação das debêntures no âmbito internacional, bem como o histórico de sua introdução no regime jurídico brasileiro. Além disso, serão examinadas a natureza jurídica das debêntures, suas espécies e formas de garantia, sua função e o procedimento para a sua emissão, de sua criação à sua extinção, incluindo a sua colocação e circulação.
Por fim, além de uma análise geral do regime jurídico das debêntures e das modalidades de debêntures criadas pela Lei nº 12.431, de 24 de junho de 2011, quais sejam, as debêntures de investimento e as debêntures de infraestrutura, em conjunto, debêntures incentivadas, será abordada a recente regulamentação da liquidação das debêntures de infraestrutura, nos termos da Resolução do CMN nº 4.751, de 26 de setembro de 2019, a qual oferece grande impacto ao mercado de capitais.
The debentures are, currently, one of the main means of financing for Brazilian companies’ corporate activities, being, for that matter, responsible for a great share of the national infrastructure financing, in the shape of infrastructure debentures, which count with a federal government tax incentive. Through this paper, in order to deepen the comprehension of such institute, a brief international history of the debentures, as well as a brief history of its introduction into the Brazilian legal system, will be presented. Furthermore, the legal nature of the debentures, their classes and possible forms of guarantee, their function and the procedures for the debenture’s emission will be examined, from their creation to their extinction, including their placement and circulation. Lastly, besides an analyses of the debentures’ legal system and of the debentures categories introduced by Law nº 12.431, of December 24th 2011, which are investment debentures and infrastructure debentures or, jointly, incentivized debentures, the recent regulation of the infrastructure debentures’ advanced liquidation, in accordance to CMN’s Resolution nº 4.751, of September 26th 2019, which offers great impact to the Brazilian capital markets, will be examined.
The debentures are, currently, one of the main means of financing for Brazilian companies’ corporate activities, being, for that matter, responsible for a great share of the national infrastructure financing, in the shape of infrastructure debentures, which count with a federal government tax incentive. Through this paper, in order to deepen the comprehension of such institute, a brief international history of the debentures, as well as a brief history of its introduction into the Brazilian legal system, will be presented. Furthermore, the legal nature of the debentures, their classes and possible forms of guarantee, their function and the procedures for the debenture’s emission will be examined, from their creation to their extinction, including their placement and circulation. Lastly, besides an analyses of the debentures’ legal system and of the debentures categories introduced by Law nº 12.431, of December 24th 2011, which are investment debentures and infrastructure debentures or, jointly, incentivized debentures, the recent regulation of the infrastructure debentures’ advanced liquidation, in accordance to CMN’s Resolution nº 4.751, of September 26th 2019, which offers great impact to the Brazilian capital markets, will be examined.
Descrição
Palavras-chave
mercado de capitais , debêntures , debêntures incentivadas , debêntures de investimento , debêntures de infraestrutura , liquidação antecipada , capital markets , debentures , incentivized debentures , investment debentures , infrastructure debentures , advanced liquidation