Brazilian State Clinches International Financing

Brazilian State Clinches International Financing

Brazil Loans

The Brazilian state of Santa Catarina has closed a $726m loan, getting international financing in a transaction seen as a model for Brazilian states to borrow additional funds. The 10-year facility is provided by Bank of America Merrill Lynch, pays 4.0%, and raises funds to repay debt owed to the federal government. It follows a similar $450m loan from Mato Grosso last year. With low rates available internationally – the Brazil sovereign got a 2.686% yield in the bond market in its most recent v

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