Rio Metro Gets BNDES Line

The Concesao Metroviaria do Rio de Janeiro, which operates metro lines in the Brazilian city, will receive BRL423m from the BNDES to expand its network. The financing, understood to have a tenor close to 20 years, pays a spread over the TJLP plus a BNDES spread of around 1.00% and a credit spread of up to 3.57%, says a BNDES spokesman. The funds are being used to expand the transfers between 2 lines and increase the frequency of trains, according to a BNDES statement.