December 7, 2012
MPX is to receive a BRL888m ($423m) project financing package from BNDES, t
MPX is to receive a BRL888m ($423m) project financing package from BNDES, the Brazilian power generator says. Proceeds would go toward construction of the Usina Termeletrica Parnaiba I, a 70%-30% joint venture with minority partner Petra Energia. The 14-year funds include a BRL204m tranche at IPCA plus BNDES long-term risk spread plus 1.88%, BRL671m at TJLP+1.88% and BRL12m at TJLP. The 676 megawatt project is funded with 70% debt. BNDES’ investment arm held an 11.7% stake in MPX as of June.