FX Securitization

Anticipation of receivables

Anticipation of receivables as a key element in your cash flow

How is the operation structured?

The securitization process consists of the issuance of a security backed by credit rights that will be traded in the capital market and acquired by investors. FX Capital transforms corporate assets into debentures, which are sold as fixed-income securities to investors. The funds contributed by investors are then allocated to the assignor under the management and control of FX Capital.
Atendimento personalizado - desenho de folha de papel e caneta.

Personalized service

We create customized solutions for each client. The result is a more flexible operation in line with the needs and problems faced by the company.
Profundidade Estratégica - desenho de olho.

Strategic Depth

Unlike the traditional credit market, a securitization company is able to operate in total proximity to the customer. We exert great influence on the business, conducting important interventions in order to equilibrate the financial balance. Our work transforms companies in a significant way, as we act from the "inside" as a strategic arm of the client.

Profundidade Estratégica - desenho de um selo com abertura para inserção de uma chave.

Security

We believe in the responsible granting of credit, acting so that resources are allocated appropriately. Based on a careful operational approach, we seek to protect all parties involved, ensuring the stability and safety of the operation.

Why bet on securitization?

Agility and bureaucracy reduction

Liquidity through the anticipation of assets

Guarantee commitments reductio

ost reduction due to cash availability

Customized operations

Securitization
Conventional Loans
01
FX Capital searches for resources in the market transforming them into negotiable debt securities, called debentures.
Emissions
Titles
Investors
02
The resource pointed by the investors remains under the management, custody and control of FX Capital through the receivables anticipation operation with the borrower.
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Resources
03
Once the receivables are settled, the assets return to FX Capital cash, starting a new cycle. The revolving of the operating cycle makes it possible to pay the agreed fees to investors.
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Part of the profits
Atendimento personalizado - desenho de folha de papel e caneta.

Personalized service

We create customized solutions for each client. The result is a more flexible operation in line with the needs and problems faced by the company.
Profundidade Estratégica - desenho de olho.

Strategic Depth

Unlike the traditional credit market, a securitization company is able to operate in total proximity to the customer. We exert great influence on the business, conducting important interventions in order to equilibrate the financial balance. Our work transforms companies in a significant way, as we act from the "inside" as a strategic arm of the client.

Profundidade Estratégica - desenho de um selo com abertura para inserção de uma chave.

Security

We believe in the responsible granting of credit, acting so that resources are allocated appropriately. Based on a careful operational approach, we seek to protect all parties involved, ensuring the stability and safety of the operation.

See more about investment characteristics

Sender
FX Capital
Title
Debenture, pre-fixed
Gross profitability
26,82% per year

Comparison considering initial investment of R$ 10,000.00 for a period of 12 months

Reference: 2022 AND 2023 years
FX Capital
Bank 1
Bank 2
Bank 3
Bank 4
Bank 5
R$ 12.682,00
Gross profitability
26,82% per year
R$ 11.079,00
Gross profitability
10,79% per year
R$ 10.763,00
Gross profitability
7,63% per year
R$ 11.302,00
Gross profitability
99% CDI (approx. 13,02% per year)
R$ 11.341,00
Gross profitability
102% CDI (approx. 13,41% per year)
R$ 11.019,00
Gross profitability
10,19% per year
Source: BCB; IBGE; XP; available assets in the respective bank’s apps.

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Above-average profitability

Combined liquidity

Security guaranteed by proximity to the borrower

Cost reduction due to cash availability

No administration or performance taxes

Investments
Traditional assets

Treasury operations

Escrow Account

Pool

Expertise in judicial reorganization

Self-financing structures

Contact us to learn more about our solutions

Frequently asked questions

See more about our solutions

What is securitization?

The legal concept of securitization is found in art. 18 of Law No. 14,430/2022. However, didactically, it is possible to explain that it is an operation with four figures:

* The investor/debenture holder who contributes money to the operation;
* The securitization company/assignee that receives the title from a transferor to advance the face value, through the application of a discount;
* The borrower/assignor who is the holder of the credit right who, in turn, transfers this to the securitization company in exchange for the advance value;
* The drawee, who is the one who will pay the security to the securitization company at the nominal value on the maturity date.

The investor's contribution is documented in a debt security, called a debenture. The securitization operation, in turn, is formalized through a receivables assignment term, covered by legal formalities so that it takes effect in law.

What is debenture?

These are credit securities issued by private companies set up in the form of a Public Limited Company, with the purpose of enabling the capture of investments, through remuneration of the amount invested at a previously established interest rate.
 
The issuance of FX Capital is subordinated debentures, which implies that they are guaranteed by the company's assets.
 
Debentures carry pre or post-fixed remuneration, in this case linked to an index such as CDI or IPCA. At FX Capital, we adopt the pre-fixed modality with a view to shielding the investor from risks and fluctuations in profitability.
 
In terms of taxation, the regressive income tax table applies, with the tax being withheld by the securitization company itself upon redemption.
 
The redemption of debentures must comply with the grace period and other conditions set out in the issuance deed, subject to a different agreement with the securitization company.

What is credit rights?

These are credits that the company has to receive from its customers, however, due to cash flow issues, it chooses to receive them in advance, through a securitization company, by applying a discount rate.
 
These credits are usually documented in bills, promissory notes and checks. FX Capital works extensively with industrial duplicates.
 
It is at this end of the operation that the investment risk lies, since the securitization company's turnover depends on the payment of receivables by issuers, here called drawees.
 
Therefore, our expertise also focuses on analyzing the solvency of these drawees, in order to guarantee the health and liquidity of the transaction.

What documents are generated in a securitization operation?

Each registered operation is supported by a receivables assignment term, a promissory note and a notification of assignment intended for the drawee, to know who to pay.

What are the risks and guarantees of a securitization transaction?

The risk of the operation is concentrated in the role of the drawee, as the drawee is responsible for paying the security transferred.
 
With regard to guarantees, the receivables anticipation operation does not require the presentation of real guarantees, being secured by the credit rights themselves. Any structured operations depend on the analysis of the specific case.

What is the charged rate?

We do not adopt a single reference regarding the discount rate applied, depending on the creditworthiness assessment of the assignor, drawee profile and maturity of the securities.

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