Institution details
BNDES (BNDES)
Key facts
- Established in 1952
- Ownership: Public
- Av. República do Chile, 100
- +55 21 2172-7447
- http://www.bndes.gov.br/
Latest update: 03/12/2021
rating type | rating agency | type | rating |
---|---|---|---|
Institution rating | S&P | Foreign currency | BB- |
Country rating | S&P | Local currency | BB- |
Products
- Supplier credit pre-shipment loan
- Supplier credit post-shipment loan
- Buyer credit post-shipment loan
- BNDES Exim Automatic
Supplier credit pre-shipment loan
Financing for production of goods and services by internationally competitive companies established under Brazilian law. Transactions are carried out through the accredited financial institutions in Brazil. Interest rate: Financial cost + BNDES spread + financial institution spread. BNDES may finance up to 70% of the supply contract depending on the company size and the type of goods and services exported. Tenor: Up to 36 months
Supplier credit post-shipment loan
Refinancing for acquisition of goods and/or services eligible for BNDES support, through the discount of credit instruments (promissory notes or bills of exchange) or the assignment of the L/C related to exports.
- Clients: Exporters of any size, established under Brazilian law
- Interest rate: LIBOR + BNDES spread + cost of the guarantee
- Tenor: Up to 15 years
- Guarantees and collateral: Available to foreign banks, multilateral organizations, Brazilian financial institutions, export/importer’s direct risk, and export credit insurance
- BNDES may finance up to 100% of the supply contract
Buyer credit post-shipment loan
Financing for importers to acquire goods and/or services provided by Brazilian exporters and listed as eligible for BNDES support
- Interest rate: LIBOR + BNDES spread + cost of the guarantee
- Tenor: Up to 15 years
- BNDES may finance up to 100% of the supply contract
- Guarantees and collaterals: Available to foreign banks, multilateral organizations, Brazilian financial institutions, export/importer’s direct risk, and export credit insurance
BNDES Exim Automatic
Provides support to trade Brazilian goods abroad at the post-shipment phase through a network of accredited banks
Financial structure:
- L/C: Issued or confirmed by the foreign bank in favor of the exporter
- Contractual formalization: Disbursement authorizations issued by the foreign bank through a specific contractual instrument signed between the foreign bank and BNDES
Eligible customers: Brazilian exporters, importers, and foreign banks.
Eligible goods: Brazilian capital goods and consumer goods.
BNDES may finance up to 100% of the supply contract up to USD 10 million.
Tenor: Up to 5 years, payable in up to 10 consecutive semi-annual installments.
Interest rate: LIBOR + BNDES spread (0.4%–1.35% depending on OECD country risk classification of foreign bank’s country).
Modality | Tenor | Cover type | coverage |
---|---|---|---|
Guarantee | Long-term | Comprehensive | 95% |
Guarantee | Long-term | Political | 100% |
Direct loan | Long-term | Comprehensive | 100% |
Performance highlights
What's new?
- BNDES-EXIM reduced its disbursements by 91% in the ten years ending 2019. In 2019, the value of medium and long-term financings was only USD 300 million.
- As part of its strategy to divest mature assets, strengthening cash for investments and reducing BNDES’s exposure to market risk, BNDES made several shareholding divestitures throughout 2020.
- Exports of goods are categorized into three groups—high value-added goods are provided more generous credit terms
- Focuses on three factors: Strategic, local, and socio-environmental development
- BNDES does not support: - Banking/financial activities - Weapons trade - Motels, saunas, and establishments for adult entertainment and gambling
- Supports the internationalization of Brazilian companies with up to 60% of the total investment
- Supports environmental protection
- Transactions must meet social and environmental responsibility requirements