<iframesrc=" ns.html?id="GTM-MZDVZ6&quot;" height="0" width="0" style="display:none;visibility:hidden"> Capital market raises R$236.9bn through September – ANBIMA

Boletim de Mercado de Capitais

Capital market raises R$236.9bn through September

 

Capital market transactions raised R$22 billion in September, down 21.6% from August. Issuances totaled R$236.9 billion in the year to September, declining 21.44% from the same period a year ago. Transactions in progress and under analysis (except share offerings) show expected volumes of R$18.2 billion and R$9.1 billion, respectively. Stronger market volatility in September affected to some extent issuances in the period as total transactions fell to 86 in the month against 97 in August.

Debentures accounted for the lion’s share of issuances in September at 39.1% but sales dropped 15.9% from August. Intermediaries and participants linked to offerings accounted for most debentures sold in the year to September, with 77.6% of the total. Mutual funds accounted for 14.7%, a significant drop from the 56.2% share a year ago. Working capital and refinancing liabilities (including buybacks or redemption of debentures from previous issuances) led the allocation of proceeds, with 36.6% and 33%, respectively.Debenture.PNG

 

Equity transactions (initial public offerings plus secondary share offerings) fell 37.6% in September from August. There were two IPOs in the month, totaling 11 listings in 2020 - a record according to the Anbima historical series started in 2014. IPOs raised R$13.8 billion in the year to date, already surpassing the total in all 2019 of R$10.2 billion. Follow-on offerings raised R$55.4 billion in the year to September, accounting for 23.4% of total issuances in the period and up 4.6% from the same period a year ago.

Securitization-related assets (CRI, CRA and FIDC) raised R$4 billion, about 88% more than in August. Such assets already account for 19.2% of the total issued through September against a 16% share from a year ago. Real estate investment funds, which hold a large portion of these assets, raised R$2.3 billion, a 46.3% decline from August, and R$29.7 billion in the year to date, down from R$25.2 billion in the same period in 2019.Securitization.PNG

September saw the return of issuances overseas, with three bond sales totaling $2 billion. The year-to-date amount stands at $20.45 billion.