Brazil, banks near agreement on loan to power companies

miércoles 18 de marzo de 2015 11:00 GYT
 

SAO PAULO, March 18 (Reuters) - The Brazilian government and some of the nation's largest private-sector banks are nearing an agreement on a 3.4 billion-real ($1 billion) loan to bolster the finances of power distributors, an official said on Wednesday.

As many as 13 commercial banks will participate, with Banco Bradesco SA, Banco Santander Brasil SA, Banco BTG Pactual SA and Banco Safra SA acting as lead arrangers and guarantors, said Luiz Eduardo Barata, president of electricity clearinghouse company CCEE.

Barata did not say when the loan should be disbursed and did not elaborate on terms and conditions. Reuters reported this month that private-sector lenders are willing to extend the loan to bolster the finances of distributors as long as borrowing costs reflect higher risks and a longer maturity. (Reporting by Aluísio Alves; Writing by Guillermo Parra-Bernal; Editing by David Gregorio)