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Press Release - Early settlement with the Treasury

09/28/2017

After reaching an agreement with the Ministries of Finance and Planning, and after a deep analysis of the inherent financial impacts and viabilities, BNDES’s Board of Directors decided to carry out the early settlement of BNDES debts to the Union, in the following terms:
 
– A deposit in the amount of R$ 33 billion, relating to the full anticipation of contracts No. 703 and 738/PGFN/CAF and the partial anticipation of contract No. 755/PGFN/CAF (with original maturities in 2051 and 2052), signed between the Union and BNDES, adding up to the total amount to be paid.
 
– An operation carried out with R$ 18 billion in the current currency and R$ 15 billion in federal public securities.
 
The collective decision of the Board of Directors took into account three relevant factors:
 
– Contributing to the efforts to contain the gross debt of the Union.
 
– Ensuring BNDES’s ability to meet the demand for the credit necessary for the development of Brazil.
 
– Remaining in alignment with the determinations of the Tribunal de Contas da União (TCU).
 
We also highlight that BNDES’s Board of Directors approved the operation, in accordance with Paragraph XXX, Art. 16, of the Bank’s Bylaws; that BNDES maintains all indicators of financial prudence; and that the Bank’s alignment with theTribunal de Contas da União (TCU) is absolute.

 

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