HomeNEWSIs it worth investing in debentures in 2022? The Complete Guide!

Is it worth investing in debentures in 2022? The Complete Guide!

Several possibilities to make money work for you, from invest in private pension, stocks, applications, funds and so many options on the market. Precisely because of the wide range of opportunities, many people are in doubt about the modalities and their advantages.

An example of this are debentures. Do you know what it is and if it is really worth it for your investment portfolio? Learn more about the modality!

What this article covers:

What are debentures?

Debentures are securities issued by companies that wish to raise funds for their projects. These companies, which can be publicly traded or privately held, would rather borrow money from investors than bear the hefty interest rates on a loan.

In this way, debentures are an alternative to fixed-income investment and act as a loan from the investor to an organization.

In other words, when buying a debenture, the investor lends his money and receives in return a remuneration defined at the time of application.

How do debentures work?

Debentures work as a way for companies to raise funds without having to resort to financing or issuing new shares, and all joint stock companies can issue these bonds in the market.

They are issued directly with companies, without intermediaries, and it is the companies that define the payment conditions, term, remuneration and general conditions, and only publicly traded companies registered with the Securities Commission (CVM) can make the offer. public debentures.

The responsibility for deciding to issue debentures rests with the general meeting of shareholders. Therefore, it must establish the conditions and criteria of the operation.

As they are issued by companies, they are riskier than other fixed income assets, but they can also provide a superior return for those who put their money in this category of modality.

It is worth mentioning that these do not have the protection of the Credit Guarantee Fund (FGC) and this means that it may have a greater share of risk.

What are the categories of debentures?

Debentures can have different types and they are:


These are bonds that mix fixed income with variable income and here the debentures can be exchanged for shares of the issuing company. Therefore, if the company is unable to return the investor’s money, it can make the payment with its shares.


Also called non-convertible debentures, these are securities that cannot be exchanged for shares. Therefore, when the security matures, the investor must receive the previously agreed interest and cannot receive shares in its place.


Incentivized debentures raise funds for projects focused on developing the country’s infrastructure. As the government wants to encourage this category of investment, the incentivized debentures are exempt from Income Tax (IR).


These are normal titles, without the benefit of exemption from Income Tax. In this way, taxes are collected according to the regressive table, so the longer the investment, the lower the rate.


The investor can exchange the debentures for shares of companies other than the issuer of the debenture.


These are bonds without a previously defined maturity date. In this case, the investor receives the previously agreed remuneration while he remains in possession of the title.


Participating debentures are those that offer participation in the company’s profits for remuneration.

Debentures are also classified according to their yield, they are:

  • Fixed-rate debenture: the buyer knows how much he will receive at maturity when buying, according to a previously defined interest rate.
  • Post-fixed debenture: the yield is linked to a variable market rate, such as the IPCA, for example.
  • Hybrid: In hybrid securities, the yield depends on the oscillations of a previously stipulated indicator and a prefixed interest rate.

Is it worth investing in debentures?

In times of low interest rates, debentures are a fixed income option that can bring better returns than other assets and give above-average earnings.

In addition, the diversity of titles, maturities, remuneration categories and guarantees offer a very wide range for those who wish to diversify their portfolio.

However, the greater the gains, the greater the risks. As we mentioned, they are not protected by the FGC (Credit Guarantee Fund) and have credit risk, that is, the possibility that the issuing company does not honor the payment.

Another important point is that the maturities of applications can be very long. If you need to redeem earlier, you will have to sell the security on the secondary market and you will be subject to market risk, which could negatively impact your profitability and have low liquidity for these assets.

In an attempt to better deal with risks, it is important to pay attention to risk rating agencies, which profile issued debentures and show the security of companies.

Did you already know about this investment? Now that you know more about him, look at his investor profile and understand whether or not it makes sense!

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