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Brazil's BNDES May Lend More Than 25% Of Reference Assets Worth To Vale

RIO DE JANEIRO -(Dow Jones)- Brazil's state-owned development bank BNDES may now make loans to mining company Vale SA (VALE, VALE5.BR) of a value greater than 25% of the bank's reference assets, Brazil's National Monetary Council CMN said late Thursday. Permission has been given for greater loans than previously to the country's biggest mining company because it is considered to operate in a strategic area, CMN said in a statement. The new rule freeing up lending to Vale will be applicable to July 2015, it said. Oil and gas producer Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras, and electrical utility Centrais Eletricas Brasileiras SA (ELET6.BR), or Eletrobras, already benefit from the rule which allows them to receive funding from BNDES at a level over 25% of the bank's reference assets value because they are considered strategic companies. Thursday's resolution extends this benefit for Petrobras and Eletrobras until July 2015, CMN said. -By Diana Kinch, Dow Jones Newswires; 55 21 7564 4495; Diana.Kinch@dowjones.com

Stock News for Petroleo Brasileiro (PBR)
DateTimeHeadline
02/12/201613:20:00Paragon Offshore to File for Bankruptcy
02/10/201614:49:00Correction to Story on Mark Mobius and Petrobras
02/05/201615:50:00Petrobras Is No Longer a Buy for Mobius
02/05/201615:40:00Petrobras Is No Longer a Buy for Emerging-Markets Investor Mobius
02/02/201617:49:40Pomerantz Achieves Significant Milestone in Petrobras Securities...
01/28/201618:24:00ADRs End Mixed; Royal Dutch Shell, Total Rise
01/28/201610:00:00Correction to Norway Oil Fund Puts Petrobras on Observation List...
01/28/201609:31:00Norway Oil Fund Puts Petrobras on Observation List
01/19/201607:10:00BTG Pactual's Net Profit Jumps 45% in Fourth Quarter
01/15/201617:36:00ADRs End Lower; China Southern Airlines, Royal Dutch Shell Trade...
01/14/201617:20:00Glitch Delays Cheniere's Natural-Gas Exports
01/14/201608:20:00Brazil's BTG Pactual Authorizes Talks to Sell BSI
01/12/201620:23:00Amid Weak Oil Prices, Pemex Touts Its Rock-Bottom Production...
01/12/201618:06:00ADRs End Higher; Shire Rallies
01/12/201614:17:00Brazil's Vale Will Draw $3 Billion From Credit Lines -- Update
01/12/201612:20:00BTG Pactual May Sell Stakes in Financial Services Companies
12/31/201510:40:00Itaú Scoops Up Pactual Stakes
12/28/201518:46:00ADRs End Mostly Lower; Oil Majors Decline
12/22/201519:20:00Oil Bettors Seek Safety in Proxies
12/15/201505:08:00Brazil's BTG Pactual Sells Portion of Holding in BR Properties

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