Companies save ‘a Marfrig’ with interest cuts – 12/27/2023 – Panel SA

Companies with shares on B3 closed the year with a reduction of almost R$9 billion in their debt with the cuts in Selic, the basic interest rate, which went from 13.75% per year, in August 2022, to 11 .75%, in mid-December this year.

“With this reduction of two percentage points, companies with debt saved the equivalent of a Cyrela or a Marfrig in market value,” said Einar Rivero, an independent financial market analyst.

This value, according to him, refers to debts with debentures, papers issued by companies to finance themselves and which are linked to the Selic, whose rate is defined by the Copom (Monetary Policy Committee) of the Central Bank.

In the survey, carried out by Rivero at the request of Panel SA, the various cuts in basic interest were considered to calculate the reduction in the financial cost of these companies’ debt. In total, the debt is R$450 billion.

Localiza was the one that benefited most from the Selic cuts — R$480 million in reduction in the financial cost of its debt. In total, the debentures (R$24 billion) represent around 80% of the vehicle rental and sales group’s total debt.

The company is followed by CCR (R$420.5 million in interest savings); Simpar (R$410 million); Eletrobras (R$328 million) and Energisa (R$287 million).

With Diego Felix

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