São Paulo – Middle Eastern countries such as the United Arab Emirates are interested in purchasing bonds of the Brazilian Development Bank (BNDES) backed by assets of Brazilian companies, mainly in the oil, gas, infrastructure and agribusiness industries. The news were published on this Friday (14th) by the Brazilian business newspaper Valor Econômico, based on information supplied by the BNDES’ chairman, Luciano Coutinho.
In the next two months, the BNDES intends to announce its first bond issue targeted at foreign sovereign funds. Coutinho told the newspaper that representatives of the bank are travelling alongside president Luiz Inácio Lula da Silva to Asia and the Middle East, and shoul negotiate with funds from the countries visited, among them Qatar. Lula will arrive at the Arab country on this Friday, accompanied by a delegation of businessmen.
Sovereign funds may be an alternative source of funding as Brazilian companies demand credit, due to the resumption of growth, according to Valor Econômico.
*Translated by Gabriel Pomerancblum
