Company funding records the highest volume of the year in September, says Anbima
Fundraising by Brazilian companies in the capital market totaled R$57.1 million, the highest volume of the year, according to data from the Brazilian Association of Financial and Capital Market Entities (Anbima). The amount represents an increase of 23.1% compared to the month of September 2022.
In the first nine months of 2023, the resources raised had a reduction of 28%, with total emissions of R$290.5 billion.
Debt securities
Debentures, which are securities issued by publicly traded companies on the Brazilian stock exchange, lead funding in both periods.
In September, offers totaled R$31.8 billion, the highest monthly volume in 2023. Compared to the month of September 2022, the increase was 46%.
In the year to date, the volume is R$142 billion, a decrease of 30.2% compared to the same period in 2022. The resources were allocated mainly to working capital (40.9%).
R$44.6 billion in emissions in the year.
The energy sector led the captures with R$44.6 billion in emissions in the year. Next come the transport, logistics and sanitation sectors, with volumes of R$15.95 billion and R$15.7 billion, respectively.
“It is also worth highlighting the lengthening of the average maturity term of debentures, which went from 6.1 years in the first nine months of 2022 to 8.3 years in the same period of 2023, reflecting greater confidence in the capital market”, stated Cristiano Cury, coordinator of Anbima’s Fixed Income Commission, in a note.
Funding ranking
The second largest volume of offers this year was Real Estate Receivables Certificates (CRIs), with issuances of R$31.7 billion, an increase of 3.5% compared to the same period in 2022.
Real estate funds (FIIs) raised R$16.4 billion, an increase of 23.3% compared to September last year. And Fiagros also increased by 46.9% in the period, totaling R$7.2 billion.
Company funding
Another highlight was the variable income with the subsequent offering of shares (follow-on) for the seventh month in a row. The increase was R$133.8% compared to September 2022, with R$6 billion.
However, in the year to date, funding totaled R$29.3 billion, a drop of 46.5% compared to the same period in 2022.
