Issuance of private securities exempt from Income Tax (IR) that finance infrastructure projects, the incentivized debentures, reached R$ 2.5 billion in March, according to data from the 100th edition of the Bulletin of Incentivized Debentures of the Secretariat of Economic Policy ( SPE) of the Ministry of Economy.
According to the secretariat, eight debentures were distributed, linked to the energy and transport sectors.
Currently, the balance of these securities on the market is R$ 179.941 billion. Launched in 2012, incentivized debentures allow companies to borrow money from investors to finance infrastructure projects or other investments. In the case of infrastructure projects, only projects defined as priorities can be financed according to Decree 8,874, of 2016.
The papers are intended to use the financial market to expand private sources of funds for large projects and reduce dependence on financing from the National Bank for Economic and Social Development (BNDES).
In exchange for the money borrowed by investors, companies pay inflation through the Broad Consumer Price Index (IPCA) plus a premium, currently set at 6.9%, higher than the average return for 2021 (5.9%). .
From 2012 to March 2022, the total volume distributed in incentivized debentures was R$173.8 billion.
Emission potential
According to the SPE, there is potential for the issuance of debentures in the amount of R$ 218 billion related to infrastructure projects already approved. By sectors, these resources are distributed in 74.3% for energy, 16.9% for transport and logistics, 8.4% for sanitation and urban mobility and 0.5% for telecommunications.
