Brazil power companies tap banks, BNDES

Brazil power companies tap banks, BNDES

Loans M&A Project & Infrastructure Finance

A group of commercial and state-owned banks have agreed to lend BRL6.6bn ($2.89bn) over three years to Brazil’s power companies, the finance ministry said last week. Development bank BNDES is lending BRL3bn. The rest of the loan is split between Banco do Brasil, Bradesco, BTG Pactual, Caixa Economica Federal, Citi, Itau and Santander. Another six banks are discussing participation at credit committee meetings. The loan, which matures in November 2017, pays 2.5% over the DI. That is higher than t

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