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Financial services

We offer specialized financial services through our structured solutions and client treasury teams, who identify opportunities for structuring, distribution, derivatives pricing and other products.

Banco BOCOM BBM’s Structuring team works with Corporate Credit to identify structuring and distribution opportunities, taking advantage of scale economies in prospecting for the proprietary portfolio and using the full array of instruments and securitization structures available on the Brazilian and international markets, from private negotiation of:

 
  • Bank Credit Notes (CCBs)
  • Export Pre-Payments (PPEs) and
  • Foreign borrowings in compliance with Law 4131
 
 

to the structuring of:

 
  • Debentures
  • Promissory notes
  • Mortgage-backed securities (CRIs)
  • Agribusiness Receivables Certificates (CRAs)

 

Banco BOCOM BBM coordinated issues of debentures and promissory notes totaling more than BRL550 million in 2017.

Synergy with Wealth Management enables the latter to offer clients opportunities for allocation to assets originated by Structured Solutions.

The Treasury for Clients team works with Corporate Credit to structure and price derivatives and other products for clients who seek alternatives with which to address the market risks to which their assets and liabilities are exposed.

 
The product offering includes derivatives for protection against the following risks:
  • Exchange-rate variation;
  • Interest rates;
  • Price indices.
 

Treasury for Clients also offers various types of foreign exchange services.

products and Services

Debenture is a security, representative of debt and issued by a company constituted as a corporation ("sociedade anônima"), publicly-traded or closed, which ensures its holders  a right of credit against the issuing company. The main advantage in the access to capital markets via debentures is the potential reduction of interest rates and  optimization of the operation characteristics, such as: (i) term, (ii) provided guarantee and, (iii) other issuance conditions.  

Promissory Note (or Commercial Paper) is a security which may be issued by companies constituted as corporations, publicly-listed or closed, limited liability company or agricultural cooperatives. Some of the general parameters for issue of this security include: the payment of interest and principal occurs in a lump-sum payment on the due date and the term of the Promissory Note may be greater than 360 days, given that the offer complies with the rules of Restricted Distribution Efforts Offering and a fiducuary agent is hired. The main advantage of fundraising via issue of Promissory Notes is the agility of the process combined with more competitive structuring costs, when compared to other products in the capital markets.

Real Estate Credit Receivables Certificates ("Certificado de Recebíveis Imobiliários" - CRI) are fixed income securities whose underlying assets are receivables related to the real estate sector. The nature of the underlying assets may be: (i) purchase and sale, or real estate leasing, or (ii) corporate credit, whose funds are aimed at the real estate sector.

Advantages to the Investor:
  • Fiduciary System – Assets Segregation;
  • Participation of Several Agents – Transparency and Reliability, and;

  • Currently, CRI transactions are IRRF-exempt (Withholding Income Tax) for individuals.
 
Advantages for a Borrower:
  • New Source of Fundraising;
  • Competitive Rates; and
  • Currently, CRI transactions are IOF-exempt (Tax on Financial Operations).

Agribusiness Credit Receivables Certificates ("Certificado de Recebíveis do Agronegócio" - CRA) are fixed income securities whose underlying are receivables originated in the contracts between rural producers, or their cooperatives, and third parties, including financing or loans related with the production, commercialization, or industrialization of the products or agricultural inputs or machines and implements used in agricultural activity.

Advantages to the Investor:

  • Fiduciary System – Assets Segregation;
  • Participation of Several Agents – Transparency and Reliability, and;
  • Currently, CRA transactions are IRRF-exempt (Withholding Income Tax) for individuals.
 

Advantages for a Borrower:

  • New Source of Fundraising;
  • Competitive Rates; and
  • Currently, CRA transactions are IOF-exempt (Tax on Financial Operations).

A Receivables Investment Fund (“Fundo de Investimento em Direitos Creditórios" - FIDC) is a vehicle for securitization of receivables.

In general terms, a company transfers its receivables to FIDC, with the purpose of ancitipating the receipt of these funds, with a discount.

The FIDC obtains funds for the acquisition of these credits through the issuance of quotas, which shall be remunerated exclusively based on the receipt of the acquired credit payments. The FIDC may remain indirectly exposed to the risks and returns of such receivables.

It is possible to generate different combinations of risk and liquidity  by combining credit rights ("direitos creditórios") which constitute the FIDC portfolio. These receivables may be classified as "to be performed" or "performed", and "revolving" or "static", as described below:

  • receivables to be performed arise from a future contract of delivery, or provision of goods or services; 
  • performed receivables are those where the delivery or provision of goods or services has already occured;

  • revolving receivables refer to the delivery or provision of goods or services which requires a replacement such as, for instance, financing of durable goods; and 
  • static receivables refer to financing of long-term projects.