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With a Loan of R$ 2.6 Billion That Odebrecht Secured from 4 Banks, the Company Claims Promising Projects
Odebrecht S.A., the holding company of the Odebrecht Group, has reached a financial agreement with five Brazilian banks that provides R$ 2.6 billion in new resources and at the same time extends, with lower interest rates, debts that would mature in the short term. Odebrecht will allocate a significant portion of the new financing to invest in its construction company, Odebrecht Engenharia e Construção (OEC), one of the main revenue drivers of the Group and a leading reference for excellence in Brazilian engineering.
The OEC will receive resources to immediately pay, within the cure period of 30 days after maturity, the amounts owed on international bonds. The R$ 2.6 billion will be evenly divided between Itaú and Bradesco and released in two phases: one, immediately, for R$ 1.7 billion; the other for R$ 900 million. The agreement also involved Banco do Brasil, Santander, and BNDES, as it was backed by the appreciation of Braskem shares used as collateral for previous loans with these institutions.
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The conclusion of the negotiation with the banks also brings more security to Odebrecht to honor its financial commitments, including those arising from agreements signed with authorities under its Leniency Agreement, and continue its trajectory of transformation and growth.
“Besides being yet another demonstration of confidence from the financial system, the agreement we just signed is the largest proof of the shareholders’ trust in the capacity of our members and in the technical qualifications of the Group’s companies to deliver quality products and services, especially from Odebrecht Engenharia e Construção,” said Luciano Guidolin, President of Odebrecht S.A.
Odebrecht Job Openings and Projects
Odebrecht is currently offering some opportunities for its INTERNSHIP PROGRAM 2018 with about 30 openings available. In the construction sector, it has won two this year: The construction of the BRT in Belém, which was budgeted at 525 million reais, and the works of the Port Center of São Mateus in Espírito Santo, with two thousand five hundred confirmed openings.
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