Brazil remodels BNDES benchmark

Brazil remodels BNDES benchmark

Structured Finance Brazil Loans Economy & Policy Project & Infrastructure Finance

Brazil's central bank said it will introduce a new long-term lending rate for loans from the national development bank BNDES, effective January 1 next year. The new rate, called the TLP, will be based on the IPCA consumer price index, plus a fixed rate equal to the yields on five-year NTN-B government bonds, the lowest cost of funding for the National Treasury, the central bank said in a statement. BNDES will still base existing loans on the TJLP long-term lending rate, which the national moneta

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