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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; [email protected]

Stock News for Petroleo Brasileiro (PBR)
DateTimeHeadline
02/18/201703:02:00Ten Nations Join Brazil Graft Probe -- WSJ
02/17/201710:04:00Brazil, 10 Other Countries Coordinate Odebrecht Probes
02/09/201706:05:00Petrobras Announces Final Tender Results and Final Settlement...
01/26/201706:14:00Petrobras Announces Early Tender Results And Early Settlement...
01/24/201706:53:00Petrobras Announces Increase of Tender Cap and Extension of Early...
01/13/201709:36:00Petrobras Texas Refinery Reports FCCU Shutdown For Tune-Up
01/11/201705:20:00Braskem to Sell QuantiQ for BRL500 Million to GTM Holdings
01/09/201720:39:00Petrobras Announces The Pricing Of Global Notes And Increase...
01/09/201707:55:00Petrobras Announces Offering Of Global Notes And Commencement...
12/24/201603:02:00Petrobras Wants Part of Settlement -- WSJ
12/23/201610:56:00Brazil's Petrobras Plans to Claim Part of Odebrecht's Anticorruption...
12/22/201603:02:00Brazil Giant Settles Bribery Case -- WSJ
12/21/201619:25:00Brazil's Petrobras Expects $1.6 Billion From Total Deal in Next...
12/21/201617:59:00Brazil's Odebrecht to Pay Up to $4.5 Billion to Settle Bribery...
12/21/201617:34:00Brazil's Petrobras Says Partnership With France's Total Worth...
12/21/201614:42:00Brazil's Odebrecht, Affiliate, to Pay at Least $3.5 Billion to...
12/21/201608:31:00Odebrecht to Pay $2.6 Billion to Settle Bribery Claims
12/17/201611:23:00Brazilian Ex-President da Silva and Son Indicted Over Alleged...
12/13/201608:40:00Brazil's Big Companies Hinder Its Brazil's Big Companies Hinder...
12/13/201607:44:00Petrobras Reports Compressor Problems at Texas Refinery

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