Key Benefits:
I get to know that the Federal Senate has approved, and I, Ramez Tebet, President, in the terms of art. 48, item 28, of the Rules of Procedure, promulgated the following
RESOLUTION NO. 2, OF 2002
Authorizes the Union to granting collateral to the external credit operation, to be concluded between the National Economic and Social Development Bank-BNDES and Japan Bank for International Cooperation-JBIC, at the equivalent value of up to US$ 300,000,000.00 (three hundred million of U.S. dollars), of principal.
The Federal Senate resolves:
Art. 1º It is the Union authorized to grant guarantee to the external credit operation to be concluded between the National Economic and Social Development Bank-BNDES and the Japan Bank for International Cooperation-JBIC, at the equivalent value of up to US$ 300,000,000.00 (three hundred million U.S. dollars), from main.
Art. 2º The credit operation, whose resources will be earmarked to partially fund the Global Multissetorial Financing Program (MCP-Stage III), has the following characteristics:
I- borrower: National Economic and Social Development Bank-BNDES;
II-borrower: Japan Bank for International Cooperation-JBIC;
III-guarantor: Federative Republic of Brazil;
IV-value: in yen equivalent to up to US$ 300,000,000.00 (three hundred million dollars Americans), of principal;
V-purpose: to finance, partially, the Global Multissetorial Financing Program (MCP-Stage III);
VI-amortization of the main: in 34 (thirty-four) semi-annual and consecutive installments, winning the first on the September 14, 2003 and the last on March 14, 2020;
VII-deficiency: 18 (eighteen) months, approximately;
VIII-interest: annual rate equivalent to the "Long Term Lending Rate" or to " Fiscal Investment and Loans Program Rate ", increased by 0.2% (two tenths percent), behold on the date of the disbursement, to which it is minor, incident on the principal's debtor balance, semestrally overdue;
VII- interest: the annual rate equivalent to?Is Long Term Prime Lending Rate? or the?Fiscal Investment and Loans Program Rate?, this increased by 0.2% (two tenths percent), beholstered on the date of the disbursement, to which is greater, incident on the principal's debtor balance, semestrally overdue; (Redação given by Resolution No. 60, of 2002)
IX-commit commission: 0.25% a.a. (twenty-five hundred per cent a year), on the undisbursed balance, paid together with the principal and the interest;
X-supervisory commission: 0.1% (one tenth per cent) on the value of the Loan Agreement, paid in 3 (three) equal installments, in yen equivalent to US$ 100,000.00 (one hundred thousand U.S. dollars) each, being the payment of the first precedent condition for the disbursement, the remaining on the anniversary dates of payment of the first instalment;
XI-general expenses: up to ¥ 5,000,000.00 (five million yen), upon proof.
Art. 3º The permission granted by this Resolution is to be exercised within 540 (five hundred and forty) days, to be counted from its publication.
Art. 4º This Resolution comes into effect on the date of its publication.
Federal Senate, on March 21, 2002
SENATOR RAMEZ TEBET
CHAIRMAN OF THE SENATE FEDERAL
Attachment (s)