ANNOUNCED AS TEMPORARYYes
On 16 July 2014, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a loan of BRL 130.6 million (USD 58.7 million) allocated to Mahle Metal Leve S.A., a local company engaged in the manufacturing and selling of engine systems and components, filtration and engine peripherals, and thermal management products. The objective of these resources is to finance the R&D of new components and systems.
The repayment deadline for the credit has been set to 16 July 2017.
The resources enclosed on the programs managed by FINEP are limited to Brazilian companies and seek to boost the national and international competitiveness of these businesses.
The interest rates set on the credit lines are composed of the long-term interest rate (TJLP) plus a supplement ranging between 1.5% and 7%, depending on the credit line and the repayment period.
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