Triunfo gets BNDES financing

Triunfo gets BNDES financing

Brazil Loans Project & Infrastructure Finance Bonds

Brazil's national development bank BNDES said it has agreed to provide long-term financing for Concebra, a highway concessionaire owned by local developer Triunfo.BNDES approved a 25-year, BRL3.58bn ($902m) loan in two tranches with a five-year grace period. The loan carries an annual interest rate of 2% above the TJLP long-term lending rate. The TJLP currently stands at 7.5% per year. Concebra said the BNDES financing covers 65% of the BRL5.5bn in expected project costs through 2020. The p

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