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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
04/22/201608:40:00BTG Pactual Sells 2 Insurance Stakes to French Insurer
04/18/201609:10:00Statoil: Positive Production Test of Gavea Appraisal Well in...
04/15/201616:00:00Politician Who Wants to Impeach Brazil's President Has His Own...
04/15/201615:50:00Brazil Assets Are Attractive as Companies Try to Cut Debt
04/15/201603:54:00Aker Solutions Gets $125 Million Subsea Services Pact From Petrobras
04/13/201614:00:00Brazil's Economy Tanks as Political Upheaval Looms
04/07/201611:30:00Brazil Bank Says Its Probe of Ex-CEO Finds No Basis to Corruption...
04/07/201607:00:00Swiss Banks at Risk of Harboring Corruption Proceeds, Says Regulator
04/04/201617:56:00ADRs End Mosly Lower; Brazilian Companies Trade Actively
03/24/201611:00:00Oil Prices Extend Fall as Stockpile Worries Resurface
03/21/201609:10:00Portugal Arrests Suspect in Petrobras Probe
03/21/201609:03:00Portugal Arrests Suspect in Petrobras Probe
03/17/201613:30:00Switzerland to Return $70 Million From Banks as Part of Petrobras...
03/17/201613:16:00Switzerland to Return $70 Million From Banks as Part of Petrobras...
03/16/201617:20:00In Gambit, Brazil's Embattled President Names da Silva to Cabinet
03/05/201617:55:00One Worker Injured in Fire at Petrobras Unit's Refinery Near...
03/02/201617:18:00Brazilian Shares Rise as Vale Gains, Real Strengthens Against...
02/29/201618:41:00ADRs End Mixed; Vale, Petrobras Rise
02/26/201619:06:00Brazil's Petrobras Signs Pact for $10 Billion in Loans From China
02/25/201619:50:00Bill to Open Brazil's Offshore Oil Fields to Foreigners Still...

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