Brazil moves to open agribiz funding to other currencies

Brazil moves to open agribiz funding to other currencies

Brazil Bonds Economy & Policy Corporate & Sovereign Strategy

The Brazilian government has introduced a bill that will allow agribusinesses to raise more funding in foreign currencies.The proposed legislation permits issuers to price receivables funds in foreign currencies with exchange rate hedge mechanisms and pay them off in Brazilian reais. The changes include agribusiness receivables certificates, or CRAs, and agribusiness credit rights certificates, or CDCAs.The government previously did not regulate the issues of agribusiness securities in fore

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