OHL Brazil Gets BNDES Loan

OHL Brazil has secured three loans through Brazil’s development bank, BNDES, for a total of BRL702.8m ($445m). The first is a 12-year, BRL493.4m loan, with a grace period of 1-year and pays a spread of TJLP+ 2.21% per year. The second credit is also for 12 years, with a 2.5-year grace period. It has a BRL159.3m size and also pays a spread of TJLP+ 2.21% per year. The last BRL50.1m tranche is for 10.25 years, has a 4.5-year grace period and pays a spread of TJLP+ 2.21% per year. The loans will be used for maintenance of roads, including lighting, protection devices and recovery services, adds the release.