BNDES Authorized to Fund Eletrobras’s EDP Bid

BNDES Authorized to Fund Eletrobras’s EDP Bid

Bonds Structured Finance Brazil Europe Loans M&A

BNDES would be able to finance Eletrobras’s bid for a stake in Portuguese state-controlled power company EDP under a new rule change. The government of President Dilma Rousseff has adjusted BNDES’ statutes, allowing the bank to use proceeds from external markets to fund the acquisition of assets or for projects and overseas investments by Brazilian companies. The move is being interpreted by observers as an indication that the development bank has been sanctioned to finance the high-pr

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