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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
06/24/201607:59:00Petrobras Announces Extension Of The Expiration Date, Increase...
06/17/201603:03:00Brazil's President Denies Corruption As Minister Quits -- WSJ
06/16/201620:19:00Brazil President Michel Temer Says Graft Claims Are 'Lies'
06/16/201619:34:00Brazil President Michel Temer Says Graft Claims Are 'Lies'
06/16/201603:03:00Graft Plea Hits Brazil Leader -- WSJ
06/15/201616:56:00Brazil's Interim President Michel Temer Linked to Corruption...
06/15/201608:00:00Petrobras Announces Extension of the Expiration Date of Offer...
06/09/201616:19:00Wife of Suspended Brazilian Lower-House Speaker Eduardo Cunha...
06/08/201618:22:00ADRs End Mostly Higher; Bradesco, Petrobras Rise
06/08/201607:40:00Brazil's Vale Raises $1.25 Billion from Overseas Bond Issue
06/02/201618:19:00ADRs End Mostly Higher; Petrobras Rises
06/01/201608:51:00Petrobras Announces Early Tender Results And Early Settlement...
05/31/201608:30:00Petrobras Board Names Pedro Parente As New CEO
05/26/201615:10:00Bristow Sees Drop in Energy-Related Work, May Cancel Helicopter...
05/26/201615:00:00Bristow Sees Drop in Energy-Related Work, Might Cancel Some Helicopter...
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

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