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Purposes
To support the Brazilian states and the Federal District by granting financial contribution to cover capital expenditures included in the annual budget.
» Eligible Capital Expenditures
The following capital expenditures may be supported:
Investments - Public works; special services; equipment and facilities; permanent material; and participation in setting up or increasing the capital of companies, or industrial or agricultural entities.
Financial Reversals - Increasing the capital of companies or commercial or financial entities.
Capital Transfer - Repayment of public debts; support for public works and equipment and
facilities.
» Clients
Brazilian states and the Federal District.
» Terms of Loan
Up to December 12, 2009.
» Types of
Financial Support
Direct; and
Non-automatic indirect - only through the Federal Financing
Institutions.
» Interest Rate
For direct support: Financial Cost + BNDES Spread + Credit risk rate
Financial Cost : Long Term Interest Rate - TJLP
BNDES Spread: 2% p.a.
Credit Risk Rate: 1.0% p.a.
For non-automatic indirect support: Financial Cost + BNDES Spread + Financing Institution Spread
Financial Cost : Long Term Interest Rate - TJLP
BNDES Spread: 2% p.a.
Credit Risk Rate: 1.0% p.a.
» Maturity
Up to 9 years, including a grace period of up to 1 year.
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Level of Participation
Up to 100%.
» Collaterals
Installments or portions of the States Participation Fund (FPE) and the Export Tax on Industrialized Products, as collateral to secure payment, or other resources with the same purpose;
Federal Collateral; and
Other collaterals accepted in Law, abiding by the relevant standards set forth by the Brazilian Central Bank (BCB), the Federal Senate and the Brazilian Treasury Office (STN).
Maximum limit of indebtedness per state and Federal District, according to the criteria set forth in Resolution No. 3,716 of the Brazilian Monetary Council:
| Estado |
Límite (R$) |
| Distrito Federal |
27.608.000,00 |
| São Paulo |
40.000.000,00 |
| Santa Catarina |
51.192.000,00 |
| Mato Grosso do Sul |
53.280.000,00 |
| Espírito Santo |
60.000.000,00 |
| Rio de Janeiro |
61.108.000,00 |
| Mato Grosso |
92.316.000,00 |
| Rio Grande do Sul |
94.192.000,00 |
| Roraima |
99.228.000,00 |
| Amazonas |
111.616.000,00 |
| Rondônia |
112.624.000,00 |
| Goiás |
113.724.000,00 |
| Paraná |
115.328.000,00 |
| Amapá |
136.480.000,00 |
| Acre |
136.840.000,00 |
| Sergipe |
166.212.000,00 |
| Alagoas |
166.404.000,00 |
| Rio Grande de Norte |
167.116.000,00 |
| Piauí |
172.856.000,00 |
| Tocantins |
173.600.000,00 |
| Minas Gerais |
178.180.000,00 |
| Paraíba |
191.556.000,00 |
| Pará |
244.480.000,00 |
| Pernambuco |
276.008.000,00 |
| Maranhão |
288.728.000,00 |
| Ceará |
293.476.000,00 |
| Bahia |
375.848.000,00 |
| Total |
4.000.000.000,00 |
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General Procedures
In order to enable the analysis of an operation, applicants should send the Letter in which the relevant public entity expresses its interest in carrying out the credit operation, the amount intended and the indication of the elements of allocation of funds according to the capital expenditures stated in the relevant Annual Budget Law, in compliance with the provisions set forth in Article 15, of Law No. 4,320/64. The Letter must be sent within 60 days as of the automatic qualification of the PEF operations.
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