In the CBN Dinheiro program this Thursday (27), expert Marcelo d'Agosto answered a question from listener Lídia about debentures. She had invested in debentures from Rodovias do Tietê, a company that filed for judicial reorganization, restructured its debts, and changed owners, leaving her uncertain about how to proceed with the investment.
A debenture is a security that a company can issue following the rules established by the Securities and Exchange Commission (CVM). These securities are tied to the financial health of the issuing company and are referred to as "private credit securities" in market terminology.
Because they are linked to the company's financial situation, investments in debentures carry greater risk than applications like Treasury Direct. If the company faces financial difficulties, the investor is subject to the risk of not receiving the full amount invested.
Despite the higher risk, debentures offer greater returns. Additionally, in many cases, such as Rodovias do Tietê, the earnings are tax-exempt for individual investors, partially compensating for the greater risk assumed by the investor.
