ANNOUNCEMENT 15 Dec 2017
The government-funded Company of Innovation and Research of Brazil (FINEP) approved a BRL 61.4 million loan to Magnesita Refratários S.A.
NUMBER OF INTERVENTIONS
Brazilian Company of Innovation and Research. Empresa Brasileira de Inovaçao e Pesquisa. Projetos contratados e valores liberados. Retrieved on 02/05/2018. Available at: http://finep.gov.br/acesso-a-informacao-externo/transparencia/projetos-contratados-e-valores-liberados
Brazilian Company of Innovation and Research. Empresa Brasileira de Inovaçao e Pesquisa. Financiamento Reembolsável. Available at: http://finep.gov.br/component/content/article/120-apoio-e-financiamento/tipos-de-apoio/financiamento-reembolsavel/42-financiamento-reembolsavel
On 15 December 2017, the Brazilian Company of Innovation and Research (FINEP) announced the approval of BRL 61.4 million (USD 18.5 million) loan allocated to the local refractory manufacturer Magnesita Refratários S.A. The objective of these resources is to finance the company's innovation program.
The repayment deadline for the credit has been set up on 15 December 2020.
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.