Pinheiro Neto advises IRB-Brasil Resseguros on debentures issuance

Pinheiro Neto Advogados has counselled IRB-Brasil Resseguros on this $43 million issuance

Pinheiro Neto steered the Second public issue of simple debentures, non-convertible in shares, unsecured, in single series, of IRB-Brasil Resseguros S.A. The issuance of the debentures was subject to a public offering with restricted efforts under the terms of CVM Instruction No. 476, of January 16, 2009, as amended.

The proceeds obtained through the issuance shall be used by the Company, in its entirety and exclusively, to contribute to the reframing of the Company under the standards defined by the Superintendence of Private Insurance (“CNSP”) and by the National Monetary Council (“CMN”), for CNSP’s Resolution n. 321/2015, and CMN’s Resolution No.4,444/15, and/or other applicable rules, regarding the presentation of bound net assets, under the applicable legislation in force, enough to cover its technical provisions, as well as the Company’s Additional Margin of Regulatory Liquidity (“Company’s Reframing”) and to strengthen the Company’s capital structure.

Pinheiro Neto team was led by partner Ricardo Russo (pictured), and involved associate Marcello Mammocci Pompilio, junior associate Emily Coral Fernandez Somenzari, and legal assistant Matheus de Lima Correia.