» Purpose

Long-term financing and/or subscription to securities to support investments made by Micro, Small and Medium-size Companies [MPMEs] members of the productive chain of the Brazilian aeronautics industry aiming at the thickening of this chain. 


» Effectiveness

Until 06.30.2010


» Clients

Micro, small and medium-size companies, headquartered in the Country, part of the productive chain of the Brazilian aeronautics industry.


» Types of Financial Support

Direct, non-automatic indirect or mixed. 

Remarks:

a) In the direct operations, from the hiring of the operation through BNDES, the Beneficiary must have its financial statements audited by an Independent External Auditor duly registered in the CMV [Securities and Exchange Commission].

b) In the direct operations that result in the exposal in the amount of up to R$ 10 million of the economic group in conjuncture with BNDES, and that does not count on guarantees, will be demanded the filed Individual Income Tax - IRPF of the operation's guarantors.

c) It is prohibited the realization of indirect operations for investments supported on the program with the conditions of the INNOVATION - P, D & I Line.


» Supportable undertaking

Implementation, expansion, recovery and modernization; and

Innovation and technological development.


» Supportable Items

National, new machines and equipment, accredited at BNDES;

Tests and trials;

Civil construction, assembly and installations;

Software developed in the country and correlated services, respecting the criteria established in the PROSOFT Commercialization Program;

Studies, consultancy services and projects;

Expenditures with managerial, technical and operational support capacity, training and improvement;

Expenditures with development and validation of industrial processes, such as for example Thermal Treatment, Non-Destructives Trials and Superficial Treatments for Steel and Aluminum and Shot Peening (conformation process of metallic materials);

Research efforts, technological development and innovation;

Investments on: (i) incremental innovations in the development of produces and processes; (ii) supplementary investments directly linked to the formation of habilitations and competitive or innovative environments; and/or (iii) creation, expansion and adaptation of the capacity for production and commercialization of innovation process results; 

Expenditures with Certification - national or international;

Associated working capital; and

Imported, new machines and equipment, with no national similar, considering that:: 
- The financed amount by the company may not surpass the equivalent in the Real currency US$ 3 million at each 12 months;
- It must be observed the same procedure used for the granting of ex-tariff by the Ministry of Industry Development and Foreign Trade [MDIC]; and
- It will be left up to the Beneficiary to prove to BNDES the inexistence of the similarity through authenticated copy of the inexistence report of National Similar, issued by the Department of Foreign Trade Operations (Decex), of the Foreign Trade Office (Secex), entailed to MDIC. 


» Minimum Amount for Financing

R$ 1 million


» Interest Rate

Direct Support = Financial Cost + BNDES Fee + Credit Risk Rate 

Indirect Support = Financial Cost + BNDES Fee + Accredited Financial Institution Fee 

Financial Cost, BNDES Fee and Maximum Participation

In case of implementation, expansion, recovery or modernization projects:

Long-Term Interest Rate - TJLP; 
BNDES Monetary Unit [UMBNDES] - see Currency Basket; and 
North-American Dollar. 

The variation of UMBNDES will be applicable, incremented by the Currency Basket charges or the North-American Dollar variation incremented by the Currency Basket, in the percentage of 100%, under the following operations:

Operations of any amount carried out with Brazilian companies under the control of foreign capital that exert non-specific economic activity in Decree no. 2.233, dated 05.23.1997, and subsequent alterations; 

Operations for the acquisition of machines and equipment that present nationalization indexes, in amounts inferior to 60%, in case of the financing amount using the total amount of the good as basis; and

Importation operations of machines and equipment. 

BNDES Fee

1% p.a. for fixed investment and associated working capital
3% p.a. for equipment importation 

BNDES Participation

Up to 100% for fixed investment and associated working capital
Up to 80% of the Free on Board [FOB] amount for equipment imports

In case of innovation and technological development projects, the same conditions in effect for the INNOVATION - P, D & I and INNOVATION - Production lines apply.

Credit Risk Rate

According to the Beneficiary risk, limited to 1.8% per annum. 

Accredited Financial Institution Fee

Negotiated between the Accredited Financial Institution and the Beneficiary, observing the limit of 3.0% p.a.


» Maturity  

The total period of the financing is determined in virtue of the payment capacity of the undertaking, company or economic group.  


» Collaterals 

Direct Operations: Defined during the operation analysis. It is waived the constitution of real guarantees in financing operations that result in the exposition of amount up to R$ 10 million of the economic group in conjuncture with BNDES, and in this cases, personal guarantees must be constituted. For other financings, it will be required, for the totality of the credit, the usual guarantees applicable to BNDES operations.

See: Guarantees 

Indirect Operations: Negotiated between the financial institution and the client, observed the rules established by Banco Central do Brasil [Central Bank of Brazil]. It will not be accepted the constitution of pledge of credit rights deriving from financial application. 

See: Guarantees


»Other Procedures

Anticipated Liquidation Premium: under BNDES discretion, in the financing operations guaranteed only by surety of company holders, will be owed to BNDES premium equivalent to 30% of the debtor balance, in case the Beneficiary pays the contract off entirely before its natural maturity date.

Transformation into Sociedade Anônima [US-type Corporation]: under BNDES discretion, in the direct financing operations guaranteed only by surety of company holders, will be required the transformation of the company into a US-type Corporation.

Preference Right: under BNDES discretion, in the direct financing operations guaranteed only by surety of company holders, the controlling shareholders must commit to the preference right to BNDES, in issuing any convertible bonds into stocks and in any capital increase of the Beneficiary and of its controlling companies, in case of third party investor entry. It will be at BNDES discretion, through BNDESPAR, the exercising of the referred right, given that it will be limited to the amount of the credit updated by the TJLP from the date of the resources release until the date of the subscription of the bonds or of the future capital investment, in equal grounds with the subscribers or investors.


» Addressing

The support requests are sent to BNDES through Consultatory Letter - filled out according to the Guide on Information for Previous Consulting - sent by the interested company or through the accredited financial institution of your preference 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.