A bond is a debt obligation issued by a corporation or government for funding purposes. When investors buy a corporate bond, they are lending money to the corporation in return, in most cases, for the right to receive periodic interest (coupon) payments and the return of their principal amount at maturity. In Brazil, debentures and notas comerciais (commercial paper) are the local debt securities equivalent of bonds, which are issued under Brazilian law and are governed by local regulations, notably Law No. 6,404/1976 (the “Brazilian Corporate Law”) and Law No. 14,195/2021.
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