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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
01/28/201513:42:10Scandal-Hit Petrobras Publishes Results -- 3rd Update
01/28/201513:39:46Scandal-Hit Petrobras Publishes Results -- 2nd Update
01/09/201516:37:21Brazil's Engevix in Talks to Sell Desenvix Stake -- Update
01/01/201519:30:50Brazil Leader Starts Term on Shaky Ground
12/30/201418:03:18Falling Oil, Commodities Prices Raise Headaches for Developing...
12/30/201402:56:24BG Group: Declaration of Commerciality Submitted for Iara Area
12/24/201412:02:38Petrobras Creates Special Committee Amid Corruption Allegations
12/24/201409:10:26Brazil's Petrobras Creates Special Committee
12/24/201408:26:41Brazil's Petrobras Creates Special Committee Amid Corruption...
12/23/201421:30:12Brazil's President Names 13 New Cabinet Members
12/19/201416:17:52Brazilian Shares Rise, Led by Rossi Residencial; Real Weakens...
12/15/201417:54:12ADR Shares End Lower; BT Group Shares Trade Actively
12/11/201414:02:34Brazil to Back New Petrobras Debt
12/10/201418:22:51ADR Shares End Lower; Shares of Oil Firms Fall
12/09/201418:13:08ADR Shares End Lower; America Movil Shares Trade Actively
12/07/201418:15:30Refinery Symbolizes Woes of Brazilian Oil Firm Petrobras
12/01/201418:38:15ADR Shares End Lower; Brazilian Shares Fall
11/26/201418:35:44Petrobras Woes Scaring Away Investors
11/24/201420:17:05SEC Issued Subpoena to Petrobras to Request Documents
11/19/201420:31:33Petrobras Case Sets Back Brazil's Leader

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