December 24, 2008
Brazil’s BNDES development bank has approved a BRL2bn 5-year credit line for electricity holdco Neoenergia. Funds drawn will pay a spread over TJLP and support a 2008-2012 investment program at regional utilities Cosern, Coelba and Companhia Energetica do Ceara. Neoenergia is a subsidiary of Spain’s Iberdrola.