Funding raised by Brazilian companies in the domestic and international markets reached 178.5
bln reais in 2016 (not including 20 bln reais in debentures issued by leasing companies).
Considering the favorable FX effect, this result is a sign of a still modest but important recovery of
corporate offerings compared with the figures of the last five years, given the challenging political
and economic scenario, which has affected the market players’ investment and funding decisions.