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    JHSF (JHSF3) will issue up to BRL 757 million in debentures

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    According to the document, the issuance will be carried out in six series and will have a term of 12 years (Image: Reproduction/JHSF)

    THE JHSF (JHSF3) approved the issuance of up to R$ 757 million in debentures, according to the minutes of the meeting published last Friday (24).

    According to the document, the issuance will be carried out in six series and will have a term of 12 years.

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    The debentures will not be convertible into company shares.

    Brazilian market turns to debentures

    Just as a tightening of global monetary conditions damages the private credit market around the world, in one of the countries that have raised interest rates the most in recent times, this market is thriving.

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    In Brazil, debenture issues jumped 35% in the first five months of the year compared to the same period in 2021, according to data from Anbima.

    The increase is notable not only because it goes against a global trend — corporate bond sales are down 30% in the US over the same period, according to Bloomberg data, and high-yield debt issuance is down 70% worldwide — but also because the Selic has risen by 11.25 percentage points since the beginning of 2021.

    Companies are looking beyond higher funding costs and taking advantage of strong demand from local investors moving to fixed income after suffering in the stock market. Retail investors and local funds bought 45% of the BRL 32.7 billion in debentures sold this year, up from 38% in the same period in 2021.

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    See the document:

    Source: Moneytimes

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