BNDES foots guarantees for airport concessions

BNDES foots guarantees for airport concessions

Bonds Structured Finance Brazil Loans Project & Infrastructure Finance

BNDES said it will guarantee up to 100% of debentures issued to finance investments by airport concessionaires in the first year.If the concessionaires do not find buyers for the debentures, then the national development bank will buy them. BNDES had previously promised to buy up to 50% of the debentures.The bank will still offer to finance up to 40% of investments based on the subsidized TJLP long-term interest rate and possibly fund another 40% at market rates, preferably through debenture iss

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