IDB Approves Financing for Porto do Pecém I TPP and Porto de Itaqui TPP
2009年3月23日 - 11:35PM
Marketwired
In compliance with article 157 of the Law # 6404/76 and with
provisions of the Instruction # 358/02 of the Brazilian Securities
Commission (Comiss�o de Valores Mobili�rios, or "CVM"), MPX Energia
S.A. ("MPX" or the "Company") (BOVESPA: MMXM3) (TSX: XMM) hereby
informs that, the Inter-American Development Bank ("IDB") Board of
Executive Directors approved on March 20, 2009, a long term
financing package for the Pec�m I TPP ("Pec�m I") and Itaqui TPP
("Itaqui") projects. Pec�m I is a 50/50 partnership between MPX and
EDP Energias do Brasil S.A., and Itaqui is fully owned by MPX.
The financing package, amounting to US$ 197 million in direct
loans from IDB ("A loans"), was approved after a long and strict
due diligence process, coordinated by specialized consultants
appointed by IDB. The due diligence has covered in details all
technical, environmental, social and financial aspects of both
projects. The final approval of the financing package not only
reinforces the feasibility and importance of these enterprises, but
also shows that the Company is able to design robust and assertive
strategies for risk mitigation.
According to MPX's Chairman, Mr. Eike Batista: "It is with great
satisfaction that I congratulate MPX's team and all other agents
involved in the negotiations for the conclusion of this important
deal, which represents a fundamental quality stamp for MPX's
projects and confirms not only its technical and financial
feasibility, but also the compliance with the most stringent social
and environmental standards required by IDB."
IDB will also arrange up to US$ 314 million in indirect loans
("B loans") from several international banks. Such credit lines are
in final stage of contracting. Additionally, the Banco Nacional de
Desenvolvimento Econ�mico e Social ("BNDES") should approve soon a
long term financing package that will complete the leverage
foreseen for the projects. Itaqui's implementation will also be
funded by a loan from the Banco do Nordeste do Brasil ("BNB"),
currently in approval process.
Pec�m I and Itaqui are part of the Brazilian Government's Growth
Acceleration Program ("PAC") and represent an important step
towards the diversification of the country's energy matrix,
increasing the reliability of electricity supply.
Both plants will use clean-coal technology, complying with the
most rigorous legal requirements of the Brazilian law as well as
international agencies. So as to foster Brazil's sustainable
development, MPX will go beyond legal requirements and will
implement a vast plan for greenhouse gas reduction. As per IDB's
press release, "Innovative agreement will partially offset CO2
emissions by promoting renewable energy projects and greenhouse gas
reduction research."
To access the complete material fact, please access
www.mpx.com.br/ir
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Contact Information: Eduardo Karrer CEO and Investor Relations
Officer Phone: 55 (21) 2555-4061 Fax: 55 (21) 2555-5630
ir.mpx@mpx.com.br
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