December 16, 2009
Brazilian IT company Tivit, which in September raised BRL570 through an IPO
Brazilian IT company Tivit, which in September raised BRL570 through an IPO, has secured a new BRL150m credit line with the BNDES, according to an executive close to the company. The facility has a 7-year maturity with a 2-year grace period, and pays TJLP plus 150bp. Proceeds are being used to support the company’s capex and expansion plans, which include opening new units. Tivit is 43% held by Votorantim and 7% held by Patria.