BNDES endorses Fraport loan

BNDES endorses Fraport loan

Loans Project & Infrastructure Finance Debt Brazil Europe

The Brazilian development bank BNDES said it has approved a BRL1.25bn ($320m) loan for the Germany's Fraport to pay for works at the airport in Porto Alegre. The 20-year financing covers roughly 60% of the BRL1.8bn in estimated project costs, BNDES said in a press release. Fraport won the auction for the 25-year concession with a bid of BRL382m in March last year and signed the contract in August. The company has until the end of October 2019 to expand the terminal to handle 9m passengers per ye

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