Embraport Gets $400m A/B Loan

Brazil’s Embraport will get an A loan from the IDB for $100m and a syndicated B loan for $300m from a group of international banks, says the IDB. The loan will be for construction, operation and maintenance of a new container and liquids terminal in the port of Santos. Embraport will also receive a separate loan from Caixa Economica Federal of Brazil, which will complete required long-term debt financing needed. Both loans will be long-term, to match the project’s repayment profile. The new terminal will ease congestion, reduce costs and allow the port to receive new, deeper-draft container ships, adds the IDB.