Fundraising X Leverage

Some financial managers are faced with the need to find viable alternatives to raise funds without increasing their company's financial leverage. The strategies used to obtain financing or new money without directly affecting financial covenants, allow companies to access capital without registering a significant increase in the volume of their debts.

Covenants are contractual clauses that establish financial restrictions and limits to protect creditors and ensure the company's financial health. These covenants may include requirements related to net debt, leverage ratios, interest coverage, among others.

Thus, there are funding options for companies that are concerned about complying with financial covenants or wish to preserve their capacity for additional debt. The most used strategies occur through equity, alternative debt instruments (FIDC, FII, operational leasing), intercompany funding and sale of assets.

Companies from different sectors can access the capital needed to boost their growth and finance projects without directly compromising their debt ratio. However, it is worth noting that although funding does not directly impact financial leverage, it is important to consider the company's ability to meet its obligations and generate cash.