The capital market has already raised R$484.2 billion from January to August 2024, surpassing the amount raised during the whole of 2023, which was R$467.3 billion. Among the different sectors, fixed income stands out with 78.6% of the raising in the period, according to a survey carried out by Anbima .
“The favorable conditions of the capital market, liquidity in the secondary market and the continuous evolution of regulation have allowed successive records this year, even with potential volatility ahead”, says Guilherme Maranhão, president of Anbima’s Capital Market Structuring Forum.
Among the highlights, the institution assesses that debentures continue to be the most representative asset in the segment, with an accumulated total of R$283.9 billion in the year, which represents 58.6% of issuances. In August alone, they raised R$27.1 billion, with emphasis on incentivized debentures , which attracted R$4.6 billion, even after a record high in June.
Bloxs institutional manager, Sophia Annicchino, believes that the significant increase in the volume of funding via debentures in recent times is mainly due to the fact that the capital market has become more mature and is developing as an attractive source for companies.
“They are an alternative way of accessing resources,” says the executive. “ Companies are looking to reduce their dependence on the sole and exclusive source of funds from banks.”
Furthermore, according to the data collected, investment funds increased their share of these securities, reaching 56.9% of the total, while market intermediaries — institutions and companies — reduced their exposure to debentures.