Brazil state bank to fund Embraer aircraft exports to SkyWest

RIO DE JANEIRO (Reuters) – Brazilian state development bank BNDES and planemaker Embraer SA have entered a deal for the lender to fund exports of six E-175 jets to U.S.-based carrier SkyWest Inc, the bank’s managing director told Reuters.

Bruno Aranha said in an interview that the loan was modeled as a post-shipment export credit, through which BNDES will fund the exports and SkyWest assume the debt.

It has also involved four private insurers – AXA XL, Axis Capital, Sompo International and Fidelis Insurance – Aranha said, as the state-run bank looks to increase transactions secured by private companies.

“We think this could be a trend from now on,” he said, noting they could be often used for Embraer’s high added value shipments.

The latest loan will mature in 12 years, according to Embraer. Financial details on the transaction were not disclosed.

Aranha said the bank could also help funding exports of Embraer’s KC-390 military aircraft ahead, though noting that such deals could take longer to be completed as they would involve foreign nations and their public sectors.

“But we can be a tool to support the KC exports to other countries, just like we do with jets,” he said.

(Reporting by Rodrigo Viga Gaier)

tagreuters.com2022binary_LYNXMPEI990JC-BASEIMAGE

tagreuters.com2022binary_LYNXMPEI990JD-BASEIMAGE


Read More From Original Article Here:

" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."

Related Articles

Back to top button
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker