February 7, 2014
BNDES has agreed to loan BRL1.41bn ($590m) to Brazilian aircraft manufactur
BNDES has agreed to loan BRL1.41bn ($590m) to Brazilian aircraft manufacturer Embraer. It will use the money to finance jet development, say people familiar with its plans. The tenor and interest rate have not been disclosed. Embraer was last in the public markets last year, when it switched paper due in 2013 and 2020 for a $540m 2023 in a liability management exercise. The state development bank’s subsidiary BNDESPAR owns 5.37% of Embraer.