IRB will issue up to R $ 900 million in debentures to suit Susep – Money Times

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The objective of the operation, according to the company, is to contribute to the reframing of the company to the criteria defined by Susep (Image: IRB Brasil RE / Facebook / Reproduction)

The board of directors of IRB (IRBR3) approved the issuance of up to R $ 900 million in debentures, showing a relevant fact sent to the market on Monday (28).

The objective of the operation, according to the company, is to contribute to the adjustment of the IRB to the criteria defined by the Superintendence of Private Insurance (SUSEP) and at National Monetary Council (CVM).

The debentures of the first series will have a term of three years and those of the second series will have a term of six years.

Problems with Supep

In May this year, Supep informed that the company was submitted to a special inspection regime. The reason is the lack of technical provisions (the resources needed to cover obligations such as claims and defaulters), which affects their liquidity.

At the time, the IRB attributes the situation to the strong exchange rate variation in recent months, as well as the impact of the coronavirus.

See the statement

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