We are driven by
data and transparency
We understand that the needs change according to the customer and the desired issuance, so we work in modules and with several instruments.
Our investment vehicles have a solid structure, good governance and we work seamlessly with customers and all service providers.
We generate intelligence with technology, combining data and being transparen to the market and the investors.
Modules and possible
ways of acting
We begin by understanding the segment in which the company is, its maturity stage, intended issuance volume and the types of receivables that will be used in the securitization.
With this information in hand, we indicate the best financial instrument, also considering the one that will have greater receptivity amongst investors. The next step is to define the applicable modules to the operation that is being drawn.
Setup and management of securitization companies
Passive found management (FIDC, Fiagro, FII)
Fundraising or Placement
Receivables mirroring agent
Issuance and management of CRA
Customization of systems and integrations
Issuance and management of CRI
Support for ESG labels
Issuance of electronic securities
Real Estate Debentures
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What are financial credits?
It does not have a formal definition, but, in practice, we use Resolution CMN 2686/2000
What is backup servicer?
A backup servicer is a service provider that agrees to take up the servicing of an assets portfolio in the event of certain triggering events, particularly when there is failure or insolvency of the existing servicer.
Why hire VERT to manage passive investment funds?
VERT Gestora has an independent look and is able to do a detailed work of portfolio monitoring with customized and complex indicators. It brings governance to the structure and adds a lot in the post issuance with the interface involving the originator / assignor, the administrator and custodian of the fund and investors.
How do fintechs operate with VERT?
We set up securitization structures to finance the lending fintechs portfolios and manage the post-issuance, acquiring eligible credits and monitoring the performance of the portfolio. In most cases, via FIDC or financial debentures. We have done venture debt and CRI too.
Can a securitization transaction be off balance sheet?
Yes, some transactions are considered off-balance sheet for the originator company or assignor, and vary on a case-by-case basis according to the structure.
Does VERT work on transactions with commercial invoices’ or credit card receivables?
Yes, we work both on transactions that have these receivables as underlying assets, as well as on collateral for other loans.
How does it work when VERT does the fundraising?
We seek investors from our relationship network in a marketplace lending concept according to the risk profile versus the return of the operation (and the tranches, when it has different classes), the size of the transaction, term, and type of instrument.
How does the operational of a securitization transaction work?
Ideally, we mirror the modus operandi that already exists regardless of the securitization. We align an operational treadmill that is in line with legal document and enables a better experience for partners and customers.
In which cases is VERT a guarantee agent for an operation?
Especially in cases of corporate debentures and venture debt operations secured by receivables. See more here.
Has VERT ever done a Social Bond or Green Bond?
Yes, both. Green bonds in agribusiness and social bonds with fintechs. See examples here.
What is the difference between CRA and Fiagro?
There are numerous differences, but the main ones are that the CRA is directly linked to a relationship with farmers and is restricted to credit rights, whereas Fiagro is related to the agro-industrial chain as a whole and can also invest in land and equity. See this material for more information.
Why does VERT have a financial credit securitization company for each client?
Because unlike the securitization company of real estate credits and agribusiness, the securitization company of financial credits does not have the alternative of having separate assets and fiduciary regime.
I want to launch a new product and my company / investors will finance it. What role does VERT have in this case?
We set up the investment vehicle, structure the transaction and manage the portfolio management. We eventually take up the backup servicer role and assist with ESG’s second party opinion (if and when applicable).
Can I customize my transaction report for investors?
The reports follow a pattern but they are customized according to the indicators, triggers and indices of each issuance.
What is the difference between the FIDC and the securitization of financial credits?
The securitization company of financial credits is formally a corporation. In practice, it works as an SPV (Special Purpose Vehicle). It issues debentures to investors and with the funds raised acquires financial credits (CCBs in most cases). The flow of the CCBs is what pays for the debenture.
On the other hand, FIDC is an investment fund and it has its own regulations by the CVM. It does not have any kind of restriction regarding the nature of the credits (they can be financial, commercial and from any sector).
The carry cost and the operational structure of the securitization company allow smaller volume deals be viable and some cases with specific characteristics better fit into the securitization vehicle. But there is no right or wrong. Each case is different and we need to consider the pros and cons to see the best instrument for our partners.