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Brazil lender approves US$168mn Furnas loan

Bnamericas Published: Wednesday, May 25, 2016
Brazil lender approves US$168mn Furnas loan

Brazilian electricity utility Furnas has received approval to use receivables as collateral for a 600mn-real (US$168mn) loan, the official gazette said on Tuesday.

State-owned bank Caixa Econômica Federal accepted Furnas' request to use future income from the sale of contracted energy on the regulated market.

The cash will be used for Furnas' 2016 investment program, the gazette said.

Rio de Janeiro-based Furnas is a subsidiary of Brazil's state-run power utility holding Eletrobras.

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