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Brazil's Daycoval garners $425M loan from group of banks

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Brazil's Daycoval garners $425M loan from group of banks

Banco Daycoval SA said it obtained a loan of about $425 million from IDB Invest and a group of other banks, adding that it will use the funds to grow its credit portfolio.

The loan has maturities of between two and four years and will focus on supporting small and medium-size enterprises, regions undergoing economic and social development, investments in energy efficiency and gender equality projects.

Of the total amount, $150 million was funded from IDB Invest resources. The remainder came from a group of banks including Banco Santander SA, Itaú BBA International Plc, Industrial and
Commercial Bank of China Ltd., Citibank NA, Commerzbank AG, Standard Chartered Bank, Banco Latinoamericano de Comércio Exterior SA, Banco de Crédito e Inversiones SA, Banco de Occidente SA, Banco Safra (Cayman Islands) Ltd., BHD International Bank SA and BAC Florida Bank SA.