Funding by Brazilian companies on the domestic and international markets totaled 66.5 bln reais in the first half of 2016, one of its lowest ever figures, 22.2% down on the same period last year and 58% less than in the first six months of 2014. The slowdown in offerings remains accentuated in the local market, fueled by the downturn in economic activity and companies reduced willingness to raise funds both for investments and the refinancing of liabilities, given the current level of interest rates.