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Brazil's Embraer Closes $650 Million Revolving Credit Facility with Global Lenders
October 17, 2022
By Yahoo Finance
SAO PAULO, Oct 17 (Reuters) - Brazilian planemaker Embraer SA said on Monday it has closed a $650 million revolving credit facility with a group of national and international financial institutions as it looks to reinforce its liquidity for the coming years.
The credit facility was led by PNC Bank, Credit Agricole, Natixis, MUFG and Santander, Embraer said in a statement, adding that it will allow it to regain access to financial resources for three years at pre-negotiated rates, which can be renewed for another two years at the lenders' discretion.
Embraer expects the deal to help it on its credit rating in the long term, chief financial officer Antonio Carlos Garcia said. The credit can be used by Embraer's subsidiaries in the United States and the Netherlands, with Embraer SA as its guarantor. (Reporting by Gabriel Araujo; Editing by Steven Grattan)
