“I've talked to Renova and with BNDES and the indication is that in February the loan will be signed and Renova's cash-flow problems will be solved,” Paulo Ferraro, the superintendent of industry and Mining at the Bahia state government tells Recharge.
Ferraro says it could be either a new bridge loan or a long-term financing deal for the complex. BNDES, which confirmed Friday that the final tranche of a R$700m ($172m) bridge loan should be disbursed soon, had said it cannot comment about future deals.
