Domestic issuance in the capital market rises 49.5% in July and totals BRL 317.9 billion in 2022

In July 2022, capital market issuances reached BRL 80.8 billion, an increase of 49.5% compared to June this year. The data were released this Tuesday (9) by the Brazilian Association of Financial and Capital Market Entities (Anbima).

In the first seven months of this year, the volume raised reached the amount of R$ 317.9 billion, against R$ 315.4 billion in the same period of 2021. The offers in progress and under analysis reach R$ 8.7 billion and R$ 14.7 billion, respectively (excluding shares).

According to the association, just one follow-on operation, by Eletrobras, represented 38.2% of the volume of issues ended in July, totaling R$ 30.9 billion – the total includes primary distribution (R$ 27.9 billion) and the secondary stock (R$ 2.9 billion).

Investment funds, on the other hand, accounted for more than half of this amount (57.7%), followed by foreign investors (27.7%) and individuals (10.2%). Institutional and intermediary investors and other participants linked to the offer subscribed 3.7% and 0.7%, in that order.

Tokenization

In July, according to data from the association, the highlight of the month was another tokenized debenture offering, with origination of R$ 60 million by the company Pravaler. In 2022, tokenized debentures already total a financial volume of BRL 134 million.

Securitization products (CRI, CRA and FIDC) accounted for 25.2% of total operations in July. Agribusiness Receivables Certificates (CRAs) stood out, as issuances almost doubled from June to July, from R$4.9 billion to R$8.4 billion.

Real Estate Receivables Certificates (CRIs) and Credit Rights Investment Funds (FIDCs) raised R$7.9 billion and R$4.1 billion in the month, in that order.

Also according to the Anbima bulletin, in the foreign market, there were no funding in July. During the year, 12 operations were carried out, corresponding to US$ 5 billion in fixed income and US$ 125 million in variable income.

Issuance of bonds (fixed income products) by companies had a significant reduction: from January to July 2021 they were US$ 17.1 billion and this year they are US$ 3.9 billion.

Debenture issuances in July, at R$ 25 billion, remained close to the average from January to June, which is R$ 22.7 billion. In 2022, R$ 158.6 billion were raised with this instrument, equivalent to almost half of the primary offerings in the capital market in the period (49.9%).