Capital Markets

The Brazilian Capital Markets are experiencing rapid development, with a growing participation of individual and institutional investors in public securities offerings. It is becoming increasingly clear that the Capital Markets are essential for the country’s economic development.

VBSO Advogados is recognized both nationally and internationally as one of Brazil’s leading law firms specializing in Capital Markets. Since its founding in 2009, our practice has been highlighted in major national and international specialized rankings.

Our recognition in the market is due to the technical excellence of our services and our deep understanding of clients’ needs in the Capital Markets area. Our practice covers a wide variety of operations in both domestic and international markets, including:

• Advising clients in public offerings of debentures (including infrastructure debentures), promissory notes, and other debt securities (debt capital markets);
• Advising clients in public offerings of shares, convertible debentures, and other equity securities (equity capital markets);
• Involvement in securitization operations of receivables (real estate, commercial, industrial, NPLs, and others), issuance of real estate receivables certificates (CRIs), agribusiness receivables certificates (CRAs), quotas of structured investment funds, and other structured finance operations;
• Consulting on applicable regulations and legal advisory focused on structuring debt and equity instruments;
• Legal advisory in the processes of IPOs, delisting, public tender offers, due diligence, obtaining various authorizations, including those related to managers and independent investment agents, and representing clients in administrative sanctioning proceedings and negotiation of settlement agreements before the Brazilian Securities and Exchange Commission (CVM);
• Regulatory matters and structured finance operations, including syndicated loans and project finance;
• Advising on debt renegotiation, asset disposals, derivative transactions, and foreign investors looking to operate in the Brazilian market;
• Representing our clients in administrative proceedings before the CVM, Central Bank, and the National Financial System Resources Council, as well as obtaining government licenses and concessions.

According to the Uqbar Experience ranking, we are leaders in advising on CRA (Agribusiness Receivables Certificate), FIDC (Credit Rights Investment Funds), and CRI (Real Estate Receivables Certificate) operations.

Our partners are also pioneers in structuring various capital market products, such as the creation of FIDC, TIDC (tokenized credit rights investment token), tokenized commercial notes, FIAGRO, CRA, among others.

We actively participate in shaping the sector’s regulatory and self-regulatory agenda, whether by contributing to the drafting of laws, self-regulation codes, consulting, and debating with market participants and regulators on the development of new products or regulations.