Embraer finalizes contracts for USD 600m in working capital, export financing

Brazilian air company Embraer (B3: EMBR3) (NYSE: ERJ) has announced it has finalized the terms of contracts for working capital and export financing for a total of up to USD 600 million, with up to four years until maturity, the company said.

Up to USD 300 million will be financed via the Brazilian National Bank of Economic and Social Development (BNDES), and the remaining value of up to USD 300 million will come from private and public banks, maintaining the proportion of 50/50.

These working capital financial lines, generally available to exporting companies, will further reinforce the cash position of the Company, guaranteeing funds from the production phase through the moment of product shipment for the export market.