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![Direct Credit Investment Funds [FIDC]](images/t_fidc.gif) |
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» Purpose
To support investments by subscribing Direct Credit Investment Funds [FIDCs] shares, using market conditions, directed to support productive
or suppliers chains.
The supportable FIDCs aim at:
commercialization of machines and equipment in the internal market; and
fixed capital investment projects.
»
General guideline for the subscription of FIDC shares by BNDES
The Funds that present any of the following aspects will be
excluded:
conflict of interest in the Fund management proposal;
not alignment of the FIDC investment model and/or focus to the operation priorities of BNDES;
existence of any lawsuit with institutions directly or indirectly controlled by the Federal Government, Securities Commission or other institutions, that BNDES considers impeditive for the analysis process;
spread proposed by the administrator and/or manager disagrees with the rates defined in the norms of BNDES;
risk rate of the Fund shares, executed by a risk rating agency, is
lower than A; and
shares spread disagree with the rates usually used in the market.
The proposals formulated and submitted to BNDES by the Fund managers or administrators must include:
the names and history of the agents involved in the Fund structure and administration/management, such as structuring agent, administrator/manager, risk rating agency, attorneys' office, audit company, custodians and others;
minute of the regulation, which defines the subordination of the shares in case of more than one class, eligibility criteria of credit rights, amortization policy and share recovery policies and selection of assignors and drawees;
costs involved in the structuring and administration rates; and
attraction policy of other investors.
» BNDES
participation
up to 25% of the total senior shares issued, in case of Funds directed to the commercialization in the internal market of machines and equipment, and
up to 80% of the total share issued, in case of Funds directed to fixed capital investments.
» Participation
Limit
R$ 120,000,000.00 (one hundred and twenty million) per Fund.
» Constitution
of Funds
The Funds must be constituted in the form of closed condominiums with shares registered for the negotiation in an electronic negotiation system of corporative securities.
» Addressing
The support requests shall be forwarded to BNDES by an Inquiry-Letter, fulfilled according to the
Guide on Information for Previous Consulting - sent by the company involved to:
Banco Nacional de Desenvolvimento Econômico e Social - BNDES
Área de Planejamento-AP
Departamento de Prioridades-DEPRI
Av. República do Chile, 100 - Protocolo - Térreo
20031-917 - Rio de Janeiro, RJ
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