Atlas · Capital markets
Installation quorum at first call for debenture holders' meeting is half of the debentures
AnswerThe debenture holders' meeting is installed, at the first call, with the presence of holders representing at least 50% (half) of the outstanding debentures.
Reviewed on 2026-10-02 · next review 2027-04-02
Data
| Who | Criterion | Consequence | Source | Data date |
|---|---|---|---|---|
| Debenture holders' meeting | First call | Installation with presence of holders representing at least half of the outstanding debentures | Lei 6.404/1976, art. 71, § 3.º | 15/12/1976 |
Data consulted on 02/10/2026.
Basis
- Lei n.º 6.404/1976, compiled (Planalto, in Portuguese): article 71 establishes the rules for convening and installing the debenture holders' meeting, setting the minimum quorum for the first call.
How it applies
The debenture holders' meeting may be convened by the fiduciary agent, the issuing company, the Securities and Exchange Commission (CVM), or by debenture holders representing at least 10% of outstanding securities. For the meeting to be validly installed at the first call, the presence of holders representing at least 50% of the outstanding debentures is required. If this quorum is not reached, the meeting may be held at a second call with any number of attendees. Each debenture entitles its holder to one vote in deliberations.
Limits
- The issuance deed may establish a higher quorum for approving modifications to the debentures' conditions, which cannot be lower than half of the outstanding debentures.
- This sheet is based exclusively on the text of the Brazilian Corporation Law (Lei 6.404/1976); any specific regulations from the Securities and Exchange Commission (CVM) or contractual clauses in the issuance deed may impose additional or stricter requirements and should be consulted in the primary source.
- Changes occurring after the revision date of this sheet must be verified on the Planalto and CVM portals.