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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
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07/29/201518:40:24Italy's Saipem Implicated in Petrobras Corruption Scandal in...
07/28/201510:30:03Brazil Corruption Probe Spreads to Eletrobras
07/24/201522:27:16Brazilian Prosecutors File Charges Against Odebrecht Chief, Others...
07/24/201519:41:46Brazilian Prosecutors File Charges Against Odebrecht Chief, Others
07/24/201513:10:08Brazilian Prosecutors to File Charges Against Odebrecht Chief
07/22/201521:10:31Swiss Authorities Open Investigation Into Brazil's Odebrecht
07/22/201519:45:14ADRs End Lower; National Bank of Greece, Petrobras Trade Actively
07/22/201519:22:44Swiss Authorities Open Investigation Into Brazil's Odebrecht
07/21/201517:15:15Brazilian Stocks Fall, Currency Strengthens
07/21/201505:34:08Dof Gets Vessel Contracts Worth NOK575 Million
07/20/201518:10:07Former Construction Executives Sentenced in Petrobras Case
07/17/201515:00:20Brazil's House Speaker Splits With Government
07/14/201511:40:11Brazil Police Seize Documents From Politicians in Petrobras Probe
07/02/201508:50:04Brazil Federal Police Arrest Another Former Petrobras Executive
07/01/201519:30:38Former Petrobras Executive Seeking Plea Deal With Prosecutors
06/29/201519:45:34Petrobras Rules Out Issuing New Shares
06/29/201517:51:48ADRs End Lower; National Bank of Greece Drops Sharply
06/29/201511:00:08Brazil's President Seeks Investment During U.S. Visit
06/29/201510:49:47Brazil's President Seeks Investment During U.S. Visit

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