Brazil and lenders negotiating electricity fund loan, says Bradesco
SAO PAULO, April 7
SAO PAULO, April 7 (Reuters) - The Brazilian government and lenders are still deciding the terms of a potential loan to electricity industry clearinghouse CCEE, a senior executive at Banco Bradesco SA said on Monday.
The transaction will likely be a loan rather than a bond sale, said Sergio Figueiredo, Bradesco's senior vice president for wholesale and private banking, at an event in Sao Paulo.
Three sources with knowledge of the situation told Reuters in March that the government is helping arrange around 8 billion reais ($3.6 billion) in bank loans to CCEE to help bolster the finances of ailing power distributors.
($1 = 2.23 Brazilian reais) (Reporting by Guillermo Parra-Bernal, Editing by Franklin Paul)
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