In January 2016, securities offerings by Brazilian companies were concentrated in the domestic fixed income and securitization bond segments, with a volume well below the average for the last five years. Total debt offerings came to just 2.8 bln reais, versus an average of 5.6 bln reais in the five preceding Januaries (2011 – 2015). The highlight was the four debenture offerings, totaling 2.5 bln reais, led by the Companhia de Participações em Concessões issue, which came to 1.25 bln reais, followed by two energy sector companies, São Manoel, which raised 532 mln reais, and Neoenergia, with 400 mln reais. Qualicorp Corretora de Seguros also held a debenture offering, which raised 311 mln reais.