Enel signs BNDES loan

Enel signs BNDES loan

Structured Finance Brazil Loans Project & Infrastructure Finance

Enel said it has signed a 20-year BRL373m ($116m) loan from Brazil's national development bank BNDES to finance investments in a hydropower project in the state of Mato Grosso. The Italian energy company received the first instalment for BRL293m at signing. It expects to receive the second instalment for BRL80m in early 2017, subject to certain conditions, Enel said in a statement. The loan carries a spread based on the TJLP long-term interest rate, which stands at 7.5%. In comparison, the centr

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