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AWARDS: BEST INFRASTRUCTURE FINANCING: BRAZIL

AWARDS: BEST INFRASTRUCTURE FINANCING: BRAZIL

September 20, 2017 | Peter Agra
Casa dos Ventos Energias Renováveis has received more than 3.5 billion reais ($1.11 billion) from Brazil’s national development bank BNDES in the past few years. But when it came time to finance the Ventos do Araripe III wind farm, the company formed relationships with a new crop of lenders.

Corporate & Sovereign Strategy Brazil

VENTOS DO ARARIPE III Casa dos Ventos Energias Renováveis has received more than 3.5 billion reais ($1.11 billion) from Brazil’s national development bank BNDES in the past few years. But when it came time to finance the Ventos do Araripe III wind farm, the company formed relationships with a new crop of lenders. The development bank arranged 1.04 billion reais in financing for the 358 MW wind farm, including 472 million reais through a direct loan and another 571 million through an onlending arrangement with Santander and Bradesco. The pricing was not exactly competitive – the 16-year direct loan came in at 350 basis points over the TJLP long-term lending rate, which stood at 7% per year

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