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Opening of revolving credit for business societies, BNDES clients, which have regularly performed their contractual obligations within deadline for a period equivalent or higher than 5 (five) years.
 Purpose
Accelerate the performance of investments in Brazil upon simplification of BNDES financial support procedures to enterprises or economic groups representing a low credit risk.
Clients
Private legal entities, meeting, cumulatively, the following
requirements:
I. no credit operation considered as problematic by the BNDES System during the latest five (5) years; and
II. as to the type of society:
a) Public capital enterprises presenting, at BNDES discretion, a minimum risk classification defined for such modality of support; or
b) Closed capital companies and those under any other type of partnership, which fit one of the three hypothesis below:
1) complying, cumulatively, the following requirements:
presenting, at BNDES discretion, a minimum risk classification defined for such modality of support; and
present, at BNDES discretion, a risk classification considered as stable; and
financial statements duly audited by an audit firm filed with the Brazilian Securities and Exchange Commission [CVM]; and
managing functions presenting, at BNDES discretion, a professionalized management; and
presenting or integrating an economic group, pursuant to BNDES standards, with annual net operating revenue and total assets equal or over R$
1.4 billion;
present, at BNDES criteria, transparency in information disclosure and reports that allow the understanding of company strategy and economic-financial standing; or
2) if an open company integrating the same economic group meets the requirements mentioned under sub-paragraph I and sub-item "a" of sub-paragraph II and is part of the Contract for the Opening of a Revolving Credit Limit or in the Deed of Promise of Debenture Subscription, as guarantor and principal paying party; or
3) if a company integrating the same economic group cumulatively meets the requirements mentioned under sub-paragraph I and item 1, sub-item "b" of sub-paragraph II and is part of the Contract for the Opening of a Revolving Credit Limit or in the Deed of Promise of Debenture Subscription, as guarantor and principal paying party.
The Beneficiaries of Credit Limit, which fail to meet any of the requirements listed, shall have the use of their Credit Limit automatically suspended.
Risk Classification
When the company belongs to an economic group, according to BNDES' criteria, the group's risk classification will be
considered.
Financeable
Items
Investments carried out in Brazil, in the enterprise's operating sector, directed to:
fixed assets implementation, modernization and expansion;
acquisition of new machinery and equipment, including manufacturing system groups, produced in Brazil and accredited with BNDES, presenting a nationalization index equal or over 60% or accomplishing the Basic Productive
Process;
engineering studies and projects related to fixed assets implementation and
expansion;
implementation of projects for Quality and Productivity; Research and Development; Technical and Managerial Qualification; Technological Updating; and Information
Technology;
working capital exclusively associated to investments for fixed assets implementation or expansion, computed in function of the endeavor's specific
needs;
social investment projects or programs; and
environmental investments.
Note: Independently of the adequacy of investments to be carried out, it is forbidden the use of a credit limit for the execution of projects that may, at BNDES exclusive discretion, cause a significant impact to the Beneficiary's economic and financial position, or to the economic group it belongs, if it is the case, or to their long-term strategies, removing its characteristic of a current project.
Interest Rate
Financial Cost + BNDES' Spread + Credit Risk Rate
Note: The interest rate is established in accordance with the General Guidance for Operating Policies and the beneficiary's risk classification, or the group to which it belongs, carried out pursuant to BNDES standards in force at the time of approval of each specific destination of the funds resulting from the credit limit opened.
 Financial Cost
Long Term Interest Rate - TJLP;
Currency Basket charges plus US dollar or UMBNDES (BNDES Monetary
Unit) variation; and/or
IPCA — Índice Nacional de Preços ao Consumidor Amplo (Extended Consumer Price Index), plus
charges.
BNDES' Spread: up to 1.8% p. a.
BNDES spread and share level will be set forth upon approval of each specific application of funding arisen out of credit limit opened, according to financial conditions applicable pursuant to BNDES operation lines.
Credit Risk Rate: up to 3.57% p.a.
Credit risk rate will be set forth upon approval of each specific application of funding arisen out of credit limit opened, according to the risk rating of funding grantee or of the group the latter belongs to, under BNDES criteria.
Collaterals
Defined in the operation analysis.
See: Guarantees
Maturity
Total financing for each specific destination: up to 10 (ten)
years.
For credit limit utilization: up to 5 (five)
years.
Making the credit limit operational
1) Contracting
A credit limit grant may be formalized, after BNDES approval and the previous stipulated conditions are met, through the following
instruments:
financing agreement upon a revolving credit opening, or
debenture subscription promise deed.
2) Utilization
Utilization of the credit limit should be preceded by a review, by BNDES, of adequacy of the proposal for uses formulated by the Beneficiary, of the operation guarantees, and, accordingly, of the social and environmental aspects, and will be formalized by means of an Amendment to the Financing Agreement upon Revolving Credit Opening [CALC], denominated "Document for Utilization of Credit Limit" [DULC], which should contain the definition of each specific destination and the corresponding financial conditions.
Addressing
The support requests are forwarded to the BNDES through a
Guide on Information for Previous Consulting that must be sent by the interested company to:
Banco Nacional de Desenvolvimento Econômico e Social [BNDES]
Área de Planejamento [AP]
Departamento de Prioridades [DEPRI]
Av. República do Chile, 100 - Protocolo - Térreo
20031-917 - Rio de Janeiro, RJ.
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