Brazil, banks in talks to extend more loans to CCEE, source says

jueves 10 de julio de 2014 10:15 GYT
 

BRASILIA, July 10 (Reuters) - The Brazilian government and a group of commercial banks are currently in talks to extend one or more loans to help Brazil's struggling electricity distributors cope with the impact of dry weather, s source with direct knowledge of the negotiations said on Thursday.

The loans, which could exceed 2 billion reais ($900 million), will go to privately owned industry clearinghouse CCEE. In recent months, a group of ten banks extended an 11 billion real credit line to CCEE, which buys and sells electricity in the spot market. ($1 = 2.22 Brazilian reais) (Reporting by Leonardo Goy; Writing by Guillermo Parra-Bernal; Editing by Jeffrey Benkoe)