April 2, 2019 |
Brazil's Tropicália Transmissora de Energia has received a two-year, BRL379m ($98.4m) guarantee from Santander and SMBC for a new transmission line in the state of Bahia, LatinFinance has heard.
Tropicália will use the guarantee to cover the completion risk in the long-term loan it received for the same amount last year from the regional development bank Banco do Nordeste Brasil (BNB), said a source close to the deal.
Project finance guarantees in Brazil usually come shortly before the first l
Santander and SMBC back a BNB loan to build a 254km transmission line in Bahia