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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
05/26/201608:51:00Petrobras Reports Unit Shutdown at Texas Refinery
05/20/201603:03:00Brazil's Troubled Oil Giant Gets New Leader -- WSJ
05/19/201620:35:00Pedro Parente to Replace Aldemir Bendine as CEO of Petrobras
05/19/201613:30:00Brazil's Temer Plans to Ask Pedro Parente to Head Petrobras
05/19/201603:02:00Finance Watch -- WSJ
05/18/201618:28:00ADRs End Mostly Higher; Nice Systems Rises
05/17/201621:04:00Petrobras Announces The Pricing Of Global Notes And Increase...
05/17/201618:43:00ADRs End Lower; NQ Mobile Rises
05/17/201608:04:00Petrobras Announces Offering of Global Notes and Commencement...
05/13/201618:30:00BlackRock Sees New Brazil Government Boosting Economy
05/11/201607:30:00BTG Pactual Profits Pop
05/05/201617:54:00McDermott Raises 2016 Profit View, Loss Narrows
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

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