-- Brazil is sketching out a plan to provide mid-sized companies with better access to the country’s capital markets, part of an effort by President Luiz Inacio Lula da Silva to bolster growth.The goal is to make it easier for companies to tap debt or equity markets, according to Marcos Pinto, secretary for economic reforms. The ideas, which are still being hashed out, include lowering fees associated with issuances and simplifying audit requirements, he said in an interview.
“A large company goes to the capital markets, directly to the investor and is able to raise funds at a much lower cost, but smaller ones can’t because it’s expensive in Brazil,” Pinto said in an interview. “We want to reduce the cost of issuances so that smaller companies can do them, too.”Brazil’s capital markets remain in nascent stage — historically high rates keep investors risk-averse, preferring to park their cash in government bonds rather than corporate credit or stocks .
Still, bank loans continue to be the main funding source for most companies. “If you open the door to the capital market, there will always be an alternative transaction that you can do,” said Marcelo Leitao, securitization director at Opea Securitizadora SA, a structured finance firm. Rodrigo Gallegos, a partner at RGF & Associados, said two of his clients — both middle market companies he declined to name — decided to shelve their financing plans because of high costs. “Both my clients were frustrated because they were unable to move forward,” he said. Based in Sao Paulo, RGF specializes in financial restructuring.
RYE, N.Y., Aug. 23, 2024 -- The Board of Trustees of The Gabelli Dividend & Income Trust approved the continuation of its policy of paying fixed monthly cash distributions. The Board of Trustees declared cash distributions of $0.11 per share for each of October, November, and December 2024. Distribution MonthRecord DatePayable DateDistribution Per ShareOctoberOctober 17, 2024October 24, 2024$0.11NovemberNovember 14, 2024November 21, 2024$0.11DecemberDecemWestford, USA, Aug.