BNDES Extends BRL900m to EDB

BNDES has approved a 5-year BRL900m credit line for Energias do Brasil to help fund the energy provider’s BRL4.6bn 2008-2012 investment plan, it says. The lines will go to two of EDB’s distribution facilities, Bandeirante Energia and Espirito Santo Eletricas and power generator Energest to help fund generation projects. Funds drawn will have a maximum of 10 years in tenor and pay interest at the TJLP rate plus an undisclosed spread based on EDB’s credit profile. EDB is a subsidiary of Portugal’s Energias do Portugal.