BRASILIA Aug 7 A pool of commercial lenders has
agreed to extend an additional 6.6 billion reais ($2.9 billion)
in emergency credit to Brazilian electricity distributors as
drought causes power rates to soar, a senior finance ministry
official said on Thursday.
Banks participating in the loan syndication include Itaú
Unibanco Holding SA, Banco Bradesco SA, Banco Santander Brasil
SA, Grupo BTG Pactual SA, Citigroup Inc and state-run lenders
Banco do Brasil SA and Caixa Econômica Federal, said Paulo
Caffarelli, the finance ministry's No. 2 official.
About 3 billion reais will come from the state development
bank BNDES, while the remaining amount will come from the other
banks, Caffarelli said. The recipient will be CCEE, the
country's spot market electricity clearinghouse, which will pay
interest equivalent to 2.35 percentage points above the
country's benchmark CDI interbank rate for both loans, he added.
(Reporting by Luciana Otoni; Editing by Peter Galloway)