Sumicity Telecom board signs off on XP-linked hedge derivatives and related guarantees
XP•Sumicity Telecom’s board approved onshore and offshore derivatives with XP, along with guarantees and collateral assignments involving its subsidiaries.
1. Derivatives approved
Sumicity’s board authorized onshore derivatives with XP Investimentos under a Contrato Global de Derivativos, backed by guarantees from operating subsidiaries. It also approved offshore derivatives under a 2002 ISDA Master Agreement with Banco XP Cayman through Giga Mais Luxembourg, as well as cross-guarantees and collateral assignments covering offshore swap receivables and an onshore receivables fiduciary assignment.
