With 25% of ON Pyme’s issue, the bank now aims to be the market leader

Debt issues (NBDs) are growing in Argentina as a form of financing for companies for whom bank loans are not so attractive due to high interest rates and the conditions under which they are granted.

In 2022, Banco Comafi actively participated in 60 broadcasts Corporate bonds, transferable liabilities under the guaranteed CNV regime for small and medium-sized enterprises, financial foundations with a public offering, public debt securities and provincial and municipal accounts, per $ 186,000 million, tripling the amount of emissions from the previous year, which was a record for Comafi.

“Few years ago ONs in pesos offer companies an interesting alternative for financing for longer terms than those currently offered by banks and at quite competitive rates“, noted Alejandro Haro, CEO of Comafi Bursátil and head of the bank’s capital markets.

“2022 was no exception and banks also appeared as buyers of these ONs because they often find in them the possibility of investing in good credit risks of the private sector and with sufficient liquidity”, added Haro.

About SMEs in the spotlight

Specifically, last year the bank monopolized 25% market share taking into account the amounts issued from ON small and medium enterprisesthereby taking second place in terms of participation, as organizer, placement and guarantor of seven negotiated obligations under the Pyme CNV Guaranteed regime for an amount equivalent to 4,900 million dollars.

“We were in second place in terms of market share and our goal is to be first in 2023Haro expected.

LEADING SECTORS

When asked about branches monopolized by NOs, Haro noted: “This year we had a lot of activity in agro-export sector, also in everything that is oil and gas. Then the financial sector is always there, this year there was less bank activity, but there were companies to finance the automotive industry and agricultural machinery.”

“January and February started with a lot of activity, we believe that this will continue this year. For companies, when they want to get out of super short financing that they may have with overdrafts in banks or deferred checks to the Stock Market, ON It is very attractive instrument.”

In addition, Haro highlighted the issues of Sumatoria and Promujer, in which the bank participated as an arranger, placement agent and guarantor.

“This is very important because if these entities wanted to go find financing on the capital market on their own, it would cost them a lot. But with the approval of a bank like Comafi or other front lines behind it, the risk the investor ultimately takes is the bank’s riskHaro concluded.