Brasilena Eletronuclear Receives Financing Offer

Brasilena Eletronuclear, a subsidiary of Eletrobras, has received EUR1.5bn in financing from a consortium of banks, according to a finance official at Eletrobras. Societe General is the MLA, with BNPP, Credit Agricole, Santander, BBVA and CIC making up the rest of the syndicate, adds the official. The loan will fund development of a nuclear plant, Angra III in Rio de Janeiro. The maturity is heard to be for 30 years. The official declined to comment on the pricing of the loan. The financing still needs to be approved by the Brazilian government.