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The board of directors of Hypermarcas SA, the largest Brazilian maker of generic drugs and personal care products, approved a credit line of up to 620 million reais ($281.8 million) with state-run Banco do Brasil SA, according to a filing on Monday.
The amount may be withdrawn within 18 months and used in up to two tranches of between 100 million and 620 million reais. The financing term is for 48 months, at 111 percent of the rate banks charge each other for overnight loans, known as DI. ($1 = 2.2 reais) (Editing by Lisa Shumaker)