ANNOUNCEMENT 12 Dec 2014
The Brazilian government-funded Company of Innovation and Research (FINEP) approved a loan of BRL 240.4 million to Telecomunicações Brasileiras 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 12 December 2014, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a loan of BRL 240.4 million (USD 89.96 million at the time of the measure) allocated to Telecomunicações Brasileiras S.A., a local holding engaged in telecommunications. The objective of these resources is to finance the development of a new defence and communication satellite.
The repayment deadline for the credit has been set to 12 December 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.